Opening a Company in Korea: A Foreigner’s Guide to Startup Visas

Short answer: Yes, foreigners can open a company in South Korea. The Korean government offers specific programs like the OASIS (Overall Assistance for Startup Immigration System) to help foreign entrepreneurs gain points for startup visas and the K-Startup Grand Challenge (KSGC) to support global startups entering the Korean market. These programs provide education, incubation, and visa support.

Status as of 2026-10-25: The K-Startup Grand Challenge 2026 application period was closed on June 17, 2026. For OASIS programs, specific application periods for 2026, such as for OASIS-4 (Basic Start-up Education) and OASIS-6 (Invention, Start-up Exhibition), have concluded. Aspiring entrepreneurs should check the Seoul Foreign Resident Portal (http://global.seoul.go.kr) and Seoul Global Center’s social media channels (@seoulglobalcenter) for future application schedules and procedures.

Key facts

Who can apply

For OASIS Programs: These programs are designed for foreign nationals and aspiring foreign entrepreneurs. Specific courses may have additional requirements, such as having foundational technical skills for OASIS-4 (Basic Start-up Education) or seeking to start a business in the trade sector for OASIS-4+ (Basic Trading Course).

For K-Startup Grand Challenge (KSGC) 2026: This program is open to global startups that are ready to enter the Korean market. Applicants should have an MVP (Minimum Viable Product), existing traction, or validated technology. The startup’s CEO or representative founder must hold non-Korean citizenship. While early-stage startups and pre-startup teams are welcome, the program focuses on those prepared to explore or expand into the Korean market. Teams can include Korean co-founders or team members, but the CEO must be a foreign national. Priority sectors for 2026 include Mechanical & Materials, Electrical & Electronics, Information & Communication, Chemical & Textile, Bio & Medical & Life Science, Energy & Resources, and Craft & Design.

What you get

Through OASIS Programs: You can receive comprehensive support for startup preparation and visa acquisition. This includes entrepreneurship education, one-on-one consulting, and assistance with intellectual property (IP) applications. OASIS-3 offers funding support for patent applications, covering approximately 50% of the overall cost of obtaining IP rights (patents, utility models, designs), subject to budget availability. Outstanding graduates may receive incubation office space through OASIS-7. OASIS-8 provides support for company incorporation, which awards recognition points for obtaining a startup visa. OASIS-9 offers initial commercialization funding, R&D connections, and post-startup business management support, also awarding recognition points.

Through K-Startup Grand Challenge (KSGC) 2026: Selected startups receive a range of benefits over an 11-month hybrid program. This includes free workspace in Pangyo and Gangnam, assistance with local entity setup and incorporation, and support for obtaining Korea startup visas (D-10-2 and D-8-4). You gain access to corporate partnerships, PoC (Proof of Concept) opportunities, and direct connections with local investors. The program provides mentoring for business strategy. Top 20 teams receive prize money, and the top 8 teams receive additional commercialization grants. Phase 2 teams may receive up to KRW 8 million (up to KRW 4 million per visit for two visits) to help offset travel and stay-related costs for designated activities in Korea. Beyond the 9-month program, KSGC offers up to 3 years of continued support for post-entry challenges and scaling.

How to apply (step by step)

For OASIS Programs and Startup Visas:

1. Participate in OASIS classes: Enroll in relevant OASIS courses (e.g., OASIS-4 for basic startup education, OASIS-4+ for trade business). Completing these courses helps you earn points for your visa application. Check the Seoul Foreign Resident Portal (http://global.seoul.go.kr) and Seoul Global Center’s social media channels (@seoulglobalcenter) for application schedules.
2. Apply for D-10-2 Startup Preparation Visa: If you want to prepare a technology-based startup, you can apply for this visa after taking OASIS classes. This visa can be issued for 6 months and extended 5 times, for a period of up to 2 years. Required documents include application, passport, photo copy, degree certificate (Apostille) or recommendation letter, OASIS Certificate, residence agreement, business plan, and a personal Korean bank statement.
3. Establish a corporation and obtain IP for D-8-4 Visa: For the D-8-4 Startup Visa, you will need to establish a corporation and obtain intellectual property rights (patent, utility, or design) or equivalent skills, and accumulate at least 60 points through OASIS certificates.
4. Apply for D-8-4 Technology and Business Startup Visa: This visa is for founders of a corporation regarding technology and business startup immigration, who have a bachelor’s degree and intellectual property rights or equivalent skills. It can be issued for 12 months and extended while your business operates. Documents include application, passport, photo copy, Alien Card, degree certificate (Apostille) or recommendation letter, OASIS Certificates (60+ points), corporate registration certificate, business certificate, residence agreement, office rent agreement, patent/utility/design application, and a personal Korean bank statement.
5. For Trade Visa (D-9-1): If you aim for a trade business, you must have a college degree, take OASIS-4+ classes, register a private business and trade business code, then apply for the D-9-1 visa.

For K-Startup Grand Challenge (KSGC) 2026:

1. Submit Application: Complete the online application with your team and business information via the official KSGC website (https://ksgc.global/).
2. Evaluation: Your potential and program fit will be assessed by the KSGC team.
3. Selection: Selected teams will be notified and proceed to onboarding for the program phases.

FAQ

Can international students in Korea apply for these programs?

Yes, OASIS programs are open to aspiring foreign entrepreneurs, which can include international students. For KSGC, the program is for global startups with a non-Korean CEO, and companies do not need to be formally incorporated at the time of application, making it accessible to individuals with a strong business idea.

Is there an application fee for KSGC or OASIS?

The K-Startup Grand Challenge does not mention an application fee. For OASIS programs, specific course fees are not detailed in the sources. It is advisable to check the official OASIS channels for this information.

Do I need a Korean legal entity to apply for KSGC?

No, you do not need a Korean legal entity at the time of application for KSGC. However, if selected, you may be required to establish one during the program to conduct local business activities and access certain benefits, such as financial awards. The program provides guidance and connects startups with professionals for company incorporation.

Can I apply for KSGC from outside Korea?

Yes, K-Startup Grand Challenge is designed as a hybrid program, combining online and in-person activities. Relocation is not strictly required, but some key events necessitate in-person participation. Major activities are grouped into “Core Weeks” (typically two weeks per month) to facilitate participation for international startups.

What kind of visa support do these programs offer?

OASIS programs help foreign entrepreneurs earn points needed for the D-10-2 (Startup Preparation Visa) and D-8-4 (Technology and Business Startup Visa), and D-9-1 (Trade Visa). KSGC provides comprehensive startup preparation visa support (D-10-2) and later, startup visa support (D-8-4) for scaling teams.

Sources

• OASIS 2.0 Opens a New Chapter in Supporting Foreign Entrepreneurs – Seoul Metropolitan Government
• KSGC 2026 | Global Startup Program in Korea
• KSGC 2026 | Global Startup Program in Korea – Grand Challenge
• OASIS – Startup and Trade VISA Process
• Seoul Foreign Resident Portal
• Seoul Global Center’s social media channels (@seoulglobalcenter)