South Korea support services

South Korea corporate banking options

    South Korean corporate bank accounts

  • Healy Consultants will be pleased to open a Korea corporate bank account without our Client needing to travel. It is a time consuming task, and Healy Consultants will shelter our Client from the associated administrative challenges. As you can appreciate, it is a difficult task to obtain bank account approval through a newly formed company, when shareholders and directors and bank signatories reside overseas. Healy Consultants will prepare a business plan for the bank to optimize the probability of corporate bank account approval. There is a 10% probability the banks will request a bank signatory to travel for a one hour bank interview. Healy Consultants will try its best to negotiate with the bank for a travel exemption. If our Client must travel to Korea for corporate bank account opening, Healy Consultants will refund our Client US$1150;
  • The banks enjoys ultimate power of approval of corporate bank account applications. Consequently, guaranteed success is outside of Healy Consultants’ control. What is inside our control is the preparation and submission of a high quality bank application that maximizes the likelihood of approval. To date, we enjoy a 100% approval record because of our global banking relationships and determination.
  • Global banks continue to tighten corporate bank account opening procedures, their internal compliance departments completing more thorough due diligence of Clients. Consequently, our Clients should expect the bank account approval period to take up to 4 weeks. Furthermore, global banks now require evidence of proof of business in the country where the corporate bank account will be, including sales contracts or lease agreement;
  • Healy Consultants Compliance Team can open an international business bank account within 1 week from the date of South Korea company incorporation. There is a 50% probability our Client will need to be physically present at the bank. Following bank account approval, the preferred Korean bank will directly and independently email our Clients the company bank account number;
  • To receive the best customer service and corporate banking in South Korea, Healy Consultants recommends international banks HSBC, Standard Chartered and Citibank for most business bank account solutions. Local banks can be used where appropriate for the South Korea business registration;
  • South Korean banks can provide financing to South Korean-registered companies provided the following conditions are met i) good business plan ii) availability of security iii) experience of business owners iv) last 3 years audited financial statements v) realistic feasibility study vi) project strength and weaknesses analysis (SWOT);
  • To support and register a company in South Korea,, Healy Consultants assists Clients with trade finance including i) bank guarantees ii) letters of credit iii) finance against trust receipt iv) document against payment and against acceptance;
  • Securing corporate finance in the form of a loan, overdraft or simply preferential credit terms are other corporate banking related aspects of doing business in South Korea;
  • South Korea banks offer the highest levels of corporate bank account facilities including multiple currencies, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, fixed term deposits, and wealth management services;
  • It is easy to open global corporate bank accounts to support South Korean company formation. Healy Consultants works with internationally recognised banks such as Industrial Bank of Korea, Citibank, and Korea Exchange Bank to provide corporate bank account services.

Contact us

For additional information on our company formation services in South Korea, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Karen Lee, directly: