Korea - Licensing Requirements for Professional Services Korea - Licensing Requirements
U.S. accounting firms have to register with the Financial Services Commission (FSC - http://www.fsc.go.kr/eng/) in order to open an office in Korea. These U.S. firms are then allowed to hire foreign accountants and provide accounting consultations to Korean companies on overseas financial operations only. They are not allowed to hire Korean accountants. In March 2017 (five years after the launch of the KORUS FTA), foreign accounting firms will be eligible to purchase less than a 50 percent stake in a Korean accounting firm. The FSC will approve U.S. accountants who have secured accounting licenses overseas to do business in Korea for five years.
For general consultants, opening an office in Korea requires a Foreign Direct Investment (FDI) approach. For a corporation to open an office, a minimum investment of 100 million Won (~ $100,000) is required for a G8 visa, and for a consultant to practice in Korea, it would require 300 million Won (~$300,000) for a G9 visa. To learn more about how one can open offices in Korea, please visit the site http://www.investkorea.org/en/index.do.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.