South Korea: Cost of starting a business

The latest value from 2019 is 14.6 percent of per capita GNI, unchanged from 14.6 percent of per capita GNI in 2018. In comparison, the world average is 19.87 percent of per capita GNI, based on data from 185 countries. Historically, the average for South Korea from 2003 to 2019 is 15.45 percent of per capita GNI. The minimum value, 14.5 percent of per capita GNI, was reached in 2014 while the maximum of 18.4 percent of per capita GNI was recorded in 2003. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.

Definition: The indicator includes all official fees and fees for legal or professional services if such services are required by law. The company law, the commercial code, and specific regulations and fee schedules are used as sources for calculating costs. The indicator excludes bribes.