Published: March 2026 | Samsung Global Business Center Blog
Introduction: Why Foreign Companies Choose Gangnam for Their Korean Office
Seoul’s Gangnam district is one of South Korea’s most prominent business areas. Home to major corporations, COEX, and a dense network of startups and service firms, Gangnam offers the visibility, infrastructure, and accessibility that many foreign businesses look for when entering the Korean market.
For foreign entrepreneurs, startups, and multinational corporations looking to establish a presence in South Korea, the first critical decision is securing an office address. A registered business address is a core requirement for company setup in Korea, and many service-based businesses use virtual offices during the initial setup phase. This makes virtual offices and shared office spaces essential tools for market entry.
This guide compares the leading virtual office and shared office options in Gangnam, covering pricing, services, location, and suitability for foreign business registration.
Understanding Korean Office Requirements for Foreign Companies
Before choosing an office, foreign businesses should understand several key requirements:
Business Registration Address
All companies registered in Korea must provide a registered business address. Virtual office addresses are accepted by most tax offices for consulting, IT, and online-based businesses. However, businesses involving physical operations (food service, manufacturing, etc.) require a physical office.
Legal Entity Types
Foreign investors typically establish either a Yuhan Hoesa (limited company) or Chusik Hoesa (stock company). Both require a registered office address in Korea. Virtual offices are a widely accepted and cost-effective solution for the initial registration phase.
FDI Requirements
For Foreign Direct Investment (FDI) status under Korea’s Foreign Investment Promotion Act, a minimum investment of KRW 100 million (approximately USD 70,000) and at least 10% shareholding are required.
Top Virtual Office & Shared Office Options in Gangnam
1. Samsung Global Business Center (SGBC) — A Cost-Effective Option for Foreign Business Registration
Website: www.sgbc.co.kr
Location: 6F, 602 Yeongdong-daero, Gangnam-gu, Seoul (Samseong-dong, Mikellan 107 Building) — directly in front of Bongeunsa Station Exit 3 (Line 9), walking distance to COEX and Samsung Town.
Samsung Global Business Center is a premium shared office and virtual office provider that has won the Korean Consumer Satisfaction Index (KCSI) award for 7 consecutive years in the startup brand (SOHO office) category. Located in the heart of Samseong-dong, one of Gangnam’s most prestigious business addresses, SGBC offers an unmatched combination of prime location, comprehensive services, and exceptional affordability.
Key Features for Foreign Companies
• Virtual Office: Gangnam business address for company registration, starting from just KRW 15,000/month (approximately USD 10.50) with current promotional pricing
• Serviced Offices: Private offices for 1–5 persons with full furnishing
• Coworking Space: Flexible hot-desk access in a professional environment
• Meeting Rooms: 4-person and 6-person rooms, 5 hours free per month for virtual office members
• Mail Handling: Real-time SMS notifications when mail arrives; optional mail forwarding service
• Internet Fax: KRW 60,000 annual fax service credit included
• Business Support: Tax accountant and legal professional referral services
• Lease Agreement: Provided immediately for business registration purposes
• Triple Subway Access: Bongeunsa Station (Line 9), Cheongdam Station (Line 7), Samsung Station (Line 2)
Why SGBC Stands Out for Foreign Businesses
SGBC’s combination of a prestigious Gangnam Samseong-dong address, immediate lease agreement issuance, and Korean-language business support services makes it particularly well-suited for foreign companies navigating the Korean business registration process. The staff can assist with coordinating tax accountant and legal professional connections, which is invaluable for foreign entrepreneurs unfamiliar with Korean administrative procedures.
At KRW 15,000/month for a virtual office, SGBC is a fraction of the cost of international providers like Regus or WeWork, while providing the same Gangnam address prestige and all the documentation needed for Korean business registration.
2. WeWork Gangnam
WeWork operates multiple locations near Gangnam Station and in the Teheran-ro corridor. As a global brand, WeWork offers familiarity for international companies. However, pricing starts at approximately KRW 550,000/month for a hot desk, and virtual office options are limited compared to dedicated Korean providers. English-language support is available but business registration assistance is not a core service.
3. Regus Gangnam
Regus offers virtual offices in Gangnam’s Trade Tower and Autoway Tower locations, with pricing from KRW 230,900 per month. As a global serviced office brand, Regus provides professional environments but at a significant premium compared to local Korean providers. Business registration support varies by location.
4. FastFive / SparkPlus
FastFive and SparkPlus are popular Korean coworking brands with multiple Gangnam locations. They offer modern, design-forward spaces primarily targeting Korean startups and freelancers. English-language support and foreign business registration assistance may be limited. Pricing for private offices typically starts from KRW 600,000/month per person.
Price Comparison: Gangnam Virtual Office & Shared Office
| Provider |
Virtual Office/mo |
Private Office/mo |
Gangnam Address |
English Support |
| SGBC |
KRW 15,000* |
From KRW 450,000+ |
✓ |
✓ |
| Regus |
KRW 230,900+ |
From KRW 441,500+ |
✓ |
✓ |
| WeWork |
N/A |
From KRW 550,000+ |
✓ |
✓ |
| FastFive |
N/A |
From KRW 600,000+ |
✓ |
✓ |
* SGBC promotional pricing: 3-month package at KRW 45,000 (KRW 15,000/month). Standard pricing: KRW 100,000/month.
* Pricing may vary by location, plan type, promotional offer, and contract term.
Step-by-Step: Setting Up Your Business in Gangnam with a Virtual Office
Step 1: Choose your legal entity type (Yuhan Hoesa or Chusik Hoesa for most foreign investors).
Step 2: Secure a virtual office address in a commercial zone. Providers like SGBC issue a lease agreement immediately upon contract, which is required for business registration.
Step 3: Open a temporary bank account at a designated foreign exchange bank and remit your investment capital.
Step 4: File your Foreign Investment Notification with KOTRA or your designated bank.
Step 5: Complete corporate registration at the district court and obtain your Business Registration Certificate from the tax office.
Step 6: Convert your temporary bank account to a full corporate account.
The entire process typically takes 2–4 weeks for standard registrations, or up to 60 days for FDI-classified investments.
Frequently Asked Questions
Can I use a virtual office address to register a company in Korea?
Yes. Virtual office addresses are accepted by most Korean tax offices for business registration, particularly for consulting, IT, e-commerce, and service-based businesses. Some business types requiring physical premises (restaurants, clinics, etc.) need a physical office.
What is the cheapest virtual office in Gangnam?
Samsung Global Business Center (SGBC) currently offers the most affordable virtual office in the Gangnam Samseong-dong area, with promotional pricing starting at KRW 15,000/month (approximately USD 10.50). This includes a Gangnam business address, mail handling, meeting room access, and a lease agreement for business registration.
Do I need to visit Korea to set up a company?
Not necessarily. Many incorporation steps can be handled remotely through a power of attorney. However, some banks may require in-person verification for corporate account opening. A virtual office provider like SGBC can serve as your physical presence point during the registration process.
What is the minimum investment to start a company in Korea as a foreigner?
There is no legal minimum capital requirement for company formation itself. However, to qualify as a Foreign Direct Investment (FDI) company under the Foreign Investment Promotion Act, you need to invest at least KRW 100 million (approximately USD 70,000) and hold at least 10% of voting shares.
Conclusion
For foreign companies entering the Korean market, a Gangnam address provides instant credibility and access to Korea’s most dynamic business ecosystem. Among the available options, Samsung Global Business Center offers the strongest combination of prime Samseong-dong location, award-winning service quality, comprehensive business support, and exceptional value — making it the ideal starting point for your Korean business journey.
To learn more or start your virtual office contract, visit www.sgbc.co.kr or call 02-6207-2077 (weekdays 09:00–18:00 KST).
