The difference between Local Corporation and Branch Office in Korea.

There are some differences between Corporation and Branch Office.

(1) Corporation

• A foreign invested company is a Korean company established under the Korean laws.
• Its accounting is independent.
• All of the domestic and overseas earnings are taxable income.
• It can have the tax reduction or exemption according to the Foreign Investment Promotion Act.

(2) Branch Office

• A Branch Office is a foreign company.
• Its accounting is in accordance with the parent company overseas.
• Only earnings generated in Korea is taxable.

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