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2019-11-06
Jason Jeon
[Legal ] How to add members to an 유한 회사? (Rephrased)
Rephrasing a previous question because it wasn't clear.

I have a 유한 회사 under my name. I would like to give voting and controlling power to a foreign entity. I'm an American so not familiar with the Korean system. In the US, when you set up a LLC (유한 회사),  there are members that own and control the company. A new member can join by 'buying' into it (e.g. investment). In my case in Korea, a foreign entity and I have a strategic relationship with me so I would like to them to add them (the foreign entity, not an employee of the foreign entity) as a member (or managing director?). But I don't want them to be just minority member, I would like them to be a 'majority owner' which means they can make all the major decisions about the 유한 회사.  Thanks in advance.

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2019-11-07
Consultant :
백진종
Hello !

The way and procedure of inviting new members to your LLC is no different from those in the United States that you said you were familiar with. When you invite new members, you can hand over as much voting rights as you want, and the new members can participate in the management of the company within the range of their shares. 

Jay BAEK
Consultant
KOTRA