South Korea–Turkey Investment Relations
South Korea and Turkey signed a Free Trade Agreement (FTA) that entered into force in 2013, one of Turkey's most comprehensive trade deals. A bilateral investment protection agreement supplements the FTA. Bilateral trade between Korea and Turkey has grown steadily, with Korean electronics and automotive brands having significant market presence.
South Korean companies have made significant investments in Turkey's manufacturing, electronics, and automotive sectors. Major Korean companies including Hyundai, LG, and Samsung have established operations in Turkey. The Korea-Turkey FTA has strengthened trade ties and encouraged Korean investment. Turkey is increasingly seen as a production hub for Korean companies serving European markets.
Can South Korean Citizens Open a Company in Turkey?
Yes. Citizens of South Korea can form a company in Turkey with 100% foreign ownership. Turkish law does not require a local partner or Turkish shareholder. South Korean nationals receive equal treatment under the Turkish Commercial Code, with the same rights and obligations as Turkish-owned companies.
There are no sector restrictions specific to South Korean investors — the vast majority of business activities are open to foreign companies without special permissions.
Visa & Work Permit Information
South Korean citizens can enter Turkey without a visa for stays up to 90 days within a 180-day period. Work permits must be applied for through the Ministry of Labour after company registration. The Turquoise Card may be available for highly qualified Korean professionals.
Foreign shareholders who do not intend to work or reside in Turkey do not need a work permit or residence permit to own a company. However, if you plan to actively manage your Turkish company from Turkey, a work permit is legally required.
Recommended Company Type
The most common structure among South Korean investors is the Joint Stock Company (A.Ş.).
LLC (Ltd. Şti.)
- Min. 50,000 TRY capital
- 1–50 shareholders
- Simple management structure
- Best for SMEs and service businesses
Joint Stock (A.Ş.)
- Min. 250,000 TRY capital
- 1+ (no limit) shareholders
- Board of directors required
- Best for large-scale or IPO-track businesses
Branch Office
- No separate legal entity
- No minimum capital
- Extension of parent company
- Best for companies testing the market
Requirements for South Korean Citizens
- Valid passport from South Korea
- Turkish tax identification number (vergi numarası)
- Registered business address in Turkey
- Notarized Articles of Association (in Turkish)
- Minimum share capital deposit at a Turkish bank
- Power of attorney (if forming remotely without visiting Turkey)
Formation Process
- Consultation — Choose your company type, define business activities, and plan your structure
- MERSIS Pre-Registration — Enter company details in Turkey's central registry system
- Articles of Association — Draft, notarize, and sign (or via power of attorney)
- Bank Account & Capital Deposit — Open a Turkish bank account and deposit at least 25% of capital
- Trade Registry — File with the local Trade Registry Office
- Tax & Social Security — Register with the tax office and SGK
- Work Permits — Apply if foreign managers or employees will be based in Turkey
The process typically takes 5–10 business days once all documents are prepared. If documents need apostille or consular legalization from South Korea, allow additional time.