1. Capital Requirement: KRW 300M
International freight forwarders must demonstrate paid-in capital of at least KRW 300 million. This must be evidenced by a bank balance certificate issued within 3 months of the application date. The capital must be in the company's corporate account — personal accounts are not accepted.
2. Surety Bond: KRW 100M
In addition to capital, a surety bond (보증보험증권) of at least KRW 100 million must be maintained throughout the period of registration. The bond protects customers against losses caused by the forwarder's non-performance.
3. Mutual Aid Association Alternative
Members of a recognized logistics mutual aid association may substitute the surety bond with membership. Confirm which associations are recognized by the Regional Land Management Office before proceeding.
4. Documenting Capital for Foreign-Invested Companies
- Foreign capital must be remitted through the FIPA-registered process
- Exchange records and FIPA report must be submitted alongside the bank certificate
- Capital denominated in foreign currency must be converted at the exchange rate on the certificate date
FAQ
Q. Does the KRW 300M need to stay in the account permanently?
A. No. It only needs to be demonstrated at the application date. Operating funds may be used from the account after registration.
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