Scenario: Korea or Vietnam for the next entity — and the clock is ticking. Korea’s incorporation is famously efficient; Vietnam’s is licensing-led. The timelines look similar on paper; they feel different in practice.
Korea: the 2–4 week registration (roughly 6 weeks to fully operational)
Korea’s foreign-investment setup is procedural and predictable: foreign investment notification (required for qualifying FDI), capital remittance to a Korean bank, corporate registration at the court registry, then business registration with the tax office. Practitioners quote about 2–3 weeks for the core registration with documents prepared, and 15–30 business days as the practical range for overseas investors once document authentication (apostille, translations) is counted. The honest all-in figure: roughly six weeks or more from filing to a working corporate bank account — the account, not the registration, is the long pole. Special industry permits add time on top.
Vietnam: the IRC/ERC timeline
Vietnam runs the two-certificate sequence — IRC first, then ERC — under Law 143/2025/QH15 (in force 01/3/2026). Open sectors typically complete in a matter of weeks; conditional sectors extend with additional licensing. The structural contrast with Korea: Korea’s process is document-driven (get the papers right and the machine processes them), while Vietnam’s is approval-driven (the project itself is evaluated before the company fully exists). Korea rewards preparation; Vietnam rewards project design.
Reading the comparison: three practical takeaways
1. Start the paper chase early for Korea. The 2–3 week clock starts after documents are ready — apostilled passports, proof of address, board resolutions from the parent. For overseas investors, document preparation is usually longer than the registration itself.
2. Start the project narrative early for Vietnam. The IRC evaluates the investment project — capital, business lines, location, environmental and labor commitments. A well-structured project file moves; a vague one stalls.
3. Budget the bank account in both. Korea’s ~6-week path to an operating account and Vietnam’s post-ERC account opening both surprise first-timers. In neither country does “registered” mean “can pay suppliers tomorrow.”
Frequently Asked Questions
How long does it take to set up a company in Korea?
About 2–3 weeks for core registration with documents prepared (15–30 business days practical range for overseas investors counting authentication); roughly six weeks or more to a working corporate bank account — the account, not the registration, is the long pole. Special industry permits add time.
How does Vietnam’s timeline compare structurally?
IRC first, then ERC, under Law 143/2025/QH15 (in force 01/3/2026) — open sectors in a matter of weeks, conditional sectors longer. Korea’s process is document-driven (preparation wins); Vietnam’s is approval-driven (project design wins).
What surprises first-timers in both countries?
In both: budget the bank account, not just the registration. Korea’s ~6-week path to an operating account and Vietnam’s post-ERC account opening both surprise first-timers — ‘registered’ doesn’t mean ‘can pay suppliers tomorrow’ in either country.
This article has been quality-reviewed by the FLAW AI Legal Council