What are the average administrative costs of setting up a corporation in Korea?

=> Several types of taxes and fees as described below have to be paid in order to
establish a corporation in Korea:

1. Registration Tax: 0.4% of paid-in-capital (in large cities often three-fold this amount)
2. Education Tax: 20% of the registration tax
3. City Railroad Public Bond: 0.1% of paid-in capital
4. Application Fee: KRW 5,000
5. Notarization Fee: around KRW150, 000 (for articles of incorporation, etc.)

=> Thus, for establishing a foreign-invested corporation with the minimum capital
requirement of KRW50 million, the total expenses would amount to KRW 935,000,
excluding the fee for the notary public.