Practical Procedures for Support of Incorporation [Summary]

Judicial Agent Sungsoo Kim’s Office,

Address: 37, 302 seochodaero52Gil, Secho, Seoul, South Korea, Tel: 822 584 1122, Fax: 822 6455 1155

Email: iwoo8517@naver.com, iwoo8517@naver.com, Website: www.bubmoo.com

1. Decision of Content for Corporation to be established

  1) Elements to Predetermine

Determine name of corporation, amount of capital assets at the time of establishment, the face value of a stock, the ratio of stocks for each stockholder, the face value and acquisition cost of a stock, business purposes, the location of head office, (chief) executive officer and auditor, payment handling bank, etc.

(* Refer to the Prearrangement for Registration of Incorporation to the bottom.)

  2) Applying for Name Search

The corporation to be established cannot register a firm name to those already registered within the same city or county. Especially in Seoul, it is not easy to register a satisfactory firm name while avoiding the numerous names that are already registered.

(* Please inquire individually to check overlapping of names)

2. Visit to Judicial Agent Sungsoo Kim’s Office

  1) Documents to be prepared

After determining the above factors for the corporation to be established and securing sufficient capital for establishment, visit Kim’s Office with the following basic documents. Contact Kim’s Office in advance, as document requirements are subject to change case by case country by country. (Basic documents:　certificate of seal impression of chief Executive officer (2), certificate of resident registration (1), certificate of seal impression of auditor (1), seal of executives, common seal of corporation to be established, seal of foreigners, documents from overseas, etc, in details explain after receiving the Prearrangement for Registration of Incorporation)

  2) Paperwork at Kim’s Office

After determining the contents of the corporation to be established, send in the Prearrangement for Registration of Incorporation to Kim’s Office by fax (South Korea 822 584 1122) or mail (iwoo8517@naver.com, iwoo8517@naver.com). Documents will be prepared within one business day.      

Pleases make reservations for visits in advance and bring with you the required documents when visiting. Judicial Agent in charge will then check the documents and seal the processed documents. (*A bylaw for unlisted/unregistered companies is to be provided.)

3. Submission of Commercial Registration

  1)　Visits to Bank

With the documents from Kim’s Office, visit the bank where the investment capital is deposited. Obtain two original copies of the Certificate of Payments in Custody from the bank. Submit the original copies to Kim’s Office, while retaining a duplicate copy.

(*Due to the real-name financial transaction system, most banks require the CEO to visit personally with identification (resident registration card or passport) for issuing the certificate of Payments in Custody.)

  2) Submission the Application of Company registration

Judicial Agent visits a commercial recording office of the Seoul Central District Court to submit the application of Company registration

4. Completion of Commercial Registration

1) Time Length:　In most cases, if there is no contact from a registration officer within the next day of document submission, consider the registration to be complete. For confirming the completion of the commercial registration, visit the website of the Supreme Court of Korea (http://www.iros.go.kr/PMainJ.jsp)

2) Issuance: After completing the commercial registration process, visit the commercial recording office again to obtain a Corporate Seal-Impression Card for the corresponding corporation. Using this card, it is possible to request issuance of a copy of cartulary and certificate of seal-impression of the corporation. It is possible to request issuance of those documents above thereafter at every commercial recording office using the card. (*When entrusting Kim’s Office with the procedure, documents can be obtained after visiting the commercial recording office.)

5. Business Registration

Visit the jurisdictional district tax office of corporation and obtain business registration certificate. Certain required documents must be submitted, and for details on the requirements, inquire at Kim’s Office.

Prearrangement for Registration of Incorporation

※ On below matters, to be confirmed for registration of incorporation above all.

1. Firm Name (Three names are prepared for avoiding of duplication.)

  1).............. (Korea) Co., Limited

  2).............. (Korea) Co., Limited

  3).............. (Korea) Co., Limited

2. Location of Office:

3. Purpose of Business:

1)

2)

3)

4)

5)

6)

7) All related business with above stated items

4. Capital at the time of Incorporation:             Korean Won

5. Price of One Stock:            Korean Won

6. Method of Notification :( Unless otherwise agreed, Daily Economy Newspaper)

7. Business Year:

   March 31st, June 31st, September 30th, December 31st (select one)

8. Officers’ Name, Nationality, Resident Registration No (if Foreigner, DOB), Address,

Representative Director:

Director:

Director:

Auditor:

9. Number of Subscribed shares: (Stockholders’ Shares, Rate, Amount Invested)

   Investor:                   Shares,          %,             Korean won

   Investor:                   Shares,          %,             Korean won

   Investor:                   Shares,          %,             Korean won

Judicial Agent Sungsoo Kim’s Office, 

Address: 37, 302 seochodaero52Gil, Secho, Seoul, South Korea, Tel: 822 584 1122, Fax: 822 6455 1155

Email: iwoo8517@naver.com, iwoo8517@naver.com, Website: www.bubmoo.com