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Do Korean companies have legal entities?

Released Date: Nov 18,2022 Article Source: HUANZE

South Korean companies have no legal person, only directors, directors are divided into representative director and ordinary director two.

South Korean companies have no legal person, only directors, directors are divided into representative director and ordinary director two. When a Korean company is a director, only1When named, he shall concurrently be a representative director and an ordinary director; The number of directors is2In case of name or above, all directors shall be ordinary directors and the representative director shall choose from among the ordinary directors.

Therefore, the structure of Korean companies is different from that of domestic companies. Domestic registered companies need to appoint legal persons, supervisors, etc., but in Korea, there are only requirements of directors, and no other requirements of structure. Therefore, when we register a Korean company, there are only shareholders and directors. If there are more than two directors, we need to select another representative director.

Do Korean companies have legal entities?

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