China vs South Korea

Foreign-invested companies in China (commonly a WFOE or joint venture) register with the State Administration for Market Regulation (SAMR) and obtain a unified business license. Setup involves name approval, registered capital, a business scope and post-registration tax and bank steps.

Foreign-invested companies register with the court commercial registry (searchable via IROS) and report the investment under the Foreign Investment Promotion Act; a stock corporation (jusik hoesa) is common. A business registration certificate from the tax office follows.

China's banking is dominated by large state banks and is highly digital (Alipay and WeChat Pay are used almost everywhere). Foreigners can open accounts with a passport and often proof of local ties; a Chinese phone number is usually needed for mobile payments. The People's Bank of China is the central bank.

Korean banking is highly digital. Foreign residents can open accounts, generally needing an alien registration card (ARC); some banks limit features until you have residency. The Bank of Korea is the central bank.

Foreign investment in China is governed by the Foreign Investment Law and a 'negative list' that limits or bars certain sectors; outside the list, foreign investors get national treatment. You set up a WFOE or joint venture, register with the authorities, and manage capital and profit repatriation under SAFE foreign-exchange rules; free-trade zones offer openings.

South Korea actively attracts FDI through Invest Korea (KOTRA) under the Foreign Investment Promotion Act. Most sectors are open with a short restricted list; you file a foreign-investment notification and can access cash grants, tax reductions and foreign-investment zones. Capital moves freely with reporting under the Foreign Exchange Transactions Act.

China's main taxes are Individual Income Tax (IIT), Corporate Income Tax and VAT, administered by the State Taxation Administration. Tax residents (generally 183+ days) are taxed on worldwide income, with a six-year rule easing this for some foreigners.

South Korea's taxes are run by the National Tax Service (NTS): income tax, corporate tax and VAT, filed via Hometax. Residents are taxed on worldwide income, with a local income tax added on top.

Foreigners generally work in China on a Z visa, obtained after securing a job and a work-permit notification, then converted to a work-type residence permit after arrival. The employer and local foreigner-work authorities drive the process; there is no general work visa without an employer.

Foreign nationals need a work visa matching the job (e.g. E-7 for skilled roles, D-8 for corporate investors, E-9 for non-professional employment); HiKorea is the government immigration portal. Most work visas are employer-linked.

Study in China uses the X1 visa for programmes longer than 180 days and the X2 visa for 180 days or fewer. The university issues an Admission Notice and a JW202 form (JW201 for Chinese-Government-Scholarship students), which you submit with the visa application. The critical step after arriving on an X1: you must convert it into a residence permit within 30 days. A Foreigner Physical Examination Record and proof of funds are commonly required.

South Korea issues the D-2 visa for degree study (associate through doctoral and research) and the D-4 visa for language training and certain other courses. After your university issues a Certificate of Admission you apply at a Korean embassy or consulate. You must complete alien registration within 90 days of arrival, and most later steps — extensions, part-time work permits — are handled online through HiKorea.

Tourism in China normally uses the L (tourist) visa, applied for before travel through a Chinese visa application service centre. China has also expanded visa-free options — unilateral visa-free entry for a growing list of nationalities (up to 30 days as of 2026) and visa-free transit at designated ports. Visa-free entry covers tourism and business only, never work; confirm current eligibility with the National Immigration Administration.

South Korea allows short tourist visits, generally visa-free for nationals of many countries, who normally need a Korea Electronic Travel Authorization (K-ETA) before flying. Everyone else applies for a short-term visit (C-3) visa. Visa-free or K-ETA stays are typically up to 90 days, and tourist entry does not permit work.

China's permanent residence ('green card') is hard to obtain and granted mainly to high-level talent, significant investors, and close family of Chinese citizens or permanent residents. The National Immigration Administration handles applications.

South Korea grants F-5 permanent residency, typically after holding a long-term status (such as F-2 resident) for the required years, or via points, investment or marriage routes, under the Korea Immigration Service. It lets you live and work without visa renewals; naturalization is a separate, longer process, and Korea restricts dual citizenship for most adults.

Chinese nationality is difficult to acquire by naturalization and generally requires close family ties to Chinese nationals or long settled residence, subject to approval. China does not recognize dual nationality.

General naturalization in South Korea requires about 5 years of continuous residence, passing the Korea Immigration & Integration Program (KIIP) or a naturalization test and interview, showing Korean-language ability and means of support. Korea generally requires renouncing your former nationality within one year, though limited dual nationality is allowed (e.g. marriage migrants, special-merit, and returnees aged 65+).

Chinese employment requires a written labour contract within a month of starting; local minimum wages apply, the standard week is 40 hours with capped overtime, and statutory paid annual leave runs 5-15 days by total service. Employers must pay the 'five insurances and one housing fund'; disputes go to labour arbitration before the courts.

Korean employment is governed by the Labor Standards Act: a national minimum wage set annually, a 52-hour week cap (40 regular plus 12 overtime), 15 days' paid annual leave after a year, and a statutory retirement (severance) allowance of about one month's pay per year of service. The Labor Office and Labor Relations Commission handle disputes.

Chinese trade clears through China Customs (GACC). You record-file as a consignee/consignor, then declare via the China International Trade Single Window. Goods are classified by HS code for import duty plus import VAT (usually 13%) and, for some products, consumption tax. Controlled goods need MOFCOM licences; advance rulings give certainty.

Korean trade clears through the Korea Customs Service using the UNI-PASS electronic system. You file import/export declarations, classify goods by HS code for customs duty plus 10% VAT on imports, and check requirement confirmations for controlled goods. Korea's many FTAs can cut duty with a certificate of origin; advance rulings give certainty.

Chinese trademarks are registered with the China National Intellectual Property Administration (CNIPA). China is strictly first-to-file, so registering early is essential. You search the register, file under the Chinese sub-class system, and after examination the mark publishes for a three-month opposition period. A Chinese trademark lasts 10 years and is renewable.

Korean trademarks are registered with the Korean Intellectual Property Office (KIPO). You search the register, file under Nice classes, and KIPO substantively examines both absolute and relative grounds before publishing for a two-month opposition period and registering. A Korean trademark lasts 10 years and is renewable; KIPO also grants patents and designs.

Public employment services in China are overseen by MOHRSS, which runs a national online job platform alongside local public employment service centres, while commercial platforms are widely used too. For foreign nationals the requirement is two documents rather than one: a Foreigner's Work Permit and a work-type residence permit. The work permits are also tiered A, B and C according to qualifications and salary, so which tier you fall into shapes what is open to you.

Work24 is Korea's official integrated employment service and job board, and it consolidated the former WorkNet in 2024 — so references to WorkNet are dated. Foreign workers need a visa that allows employment, such as the E-series work visas or, for some sectors, the Employment Permit System. The point worth knowing is that work rights do not only come from work visas: some residence visas, including F-2, F-5 and F-6, also allow work.

China has NO national minimum wage at all. Each of the 31 provinces and municipalities sets its own, and many run several local tiers within a single province — so the rate depends not just on which province you are in but on which tier your city or district falls into. MOHRSS issues guidelines while provincial governments set and update the actual rates, meaning the figure you need is always a local one. Pay is quoted gross, with individual income tax and social-insurance contributions reducing take-home.

South Korea is the simplest of the region's systems: a single national minimum wage, set each year by the Minimum Wage Council, applying nationwide across all sectors — no regional variation and no industry carve-outs to check. The monthly equivalent is conventionally derived from a 209-hour month, which is worth knowing because it is how monthly figures are quoted. Statistics Korea and the Ministry of Employment and Labor are authoritative for wage data.

China's main scholarship is the Chinese Government Scholarship (CGS), administered by the China Scholarship Council (CSC), covering tuition, accommodation and a stipend; there are also provincial scholarships (such as Shanghai's), Confucius Institute (Chinese language) scholarships and university awards. Explore options on the CSC / Campus China site and apply by the deadline.

South Korea's flagship scholarship is the Global Korea Scholarship (GKS), run by the National Institute for International Education (NIIED), covering tuition, a stipend, airfare and Korean-language training. Many universities also offer their own awards. Explore options on the Study in Korea portal and apply by embassy or university track deadlines.

To study in China you apply through the CSC (for scholarships) or directly to a university; on admission you receive an admission notice and a JW201 (government-scholarship) or JW202 (self-funded) form. With these you apply for an X1 visa (studies over 180 days) or X2 (up to 180 days), then convert the X1 to a residence permit within 30 days of arrival.

To study in South Korea you apply to the university; on admission you get an acceptance letter and apply for a D-2 visa (for a degree) or D-4 visa (for language training). Many programs require a TOPIK Korean-language level. After arrival you complete alien registration through HiKorea. Explore options on Study in Korea and apply by the deadline.

In China, foreigners can generally buy just one residential property for self-use, and usually only after studying or working in the country for at least a year (city rules vary and some cities are stricter). Ownership is a land-use right (commonly 70 years for residential), not freehold. Renters should complete temporary-residence registration with the police; purchases are registered at the local real-estate registry with deed tax.

South Korea places no restriction on foreigners buying property, though a foreign buyer must report the acquisition to the local authority. Renting has two models: jeonse (a large lump-sum deposit, often 50–80% of value, with no monthly rent, returned at the end) and wolse (a smaller deposit plus monthly rent). Purchases are registered and carry an acquisition tax.

China's basic medical insurance, overseen by the National Healthcare Security Administration, covers around 95% of the population through two schemes: employee basic medical insurance and resident basic medical insurance. Foreigners working in China can usually join the employee scheme; rules for other foreign residents vary by city. The practical catch is local variation — reimbursement levels, drug lists and designated hospitals differ by locality, and private cover is common for international hospitals.

South Korea runs a single-payer universal system, National Health Insurance, and it is mandatory. Foreign residents are generally required to enrol after staying more than six months — and some, such as students and certain workers, from arrival. Premiums are income-based, or assessed for those without employment income. The scheme covers a large share of medical costs and patients pay the remainder.

China's social insurance is usually called "five insurances and one fund" (五险一金): pension, medical, unemployment, work-injury and maternity insurance, plus the Housing Provident Fund — note that the last is a savings fund rather than an insurance. It is administered through MOHRSS and local bureaus, and foreigners in formal employment generally participate. Motor third-party liability insurance (jiaoqiang) is compulsory for vehicles, and commercial insurers are regulated by the National Financial Regulatory Administration.

South Korea's social insurance is built on four major schemes: the National Pension, National Health Insurance, Employment Insurance and Industrial Accident Compensation Insurance. They are generally mandatory for workers, and contributions are shared between employee and employer — so what you see deducted is your half rather than the full cost. Motor liability insurance is compulsory for drivers while other private cover is optional, and private insurers are supervised by the Financial Supervisory Service.