How to invoice in South Korea
South Korean tax invoices (세금계산서) must state the supply value and the 10% VAT separately, and show both the supplier's and buyer's Business Registration Numbers, the supply date and a clear description of the goods or services. VAT-registered corporations, and individual businesses above the turnover threshold, must issue these as electronic tax invoices through the National Tax Service and report them to the NTS by the day after issuance. Keep the e-Tax invoice approval number on file, as it evidences that the invoice was validly issued.
| South Korea at a glance | Detail |
|---|---|
| Currency | KRW (₩) |
| Standard VAT | 10% |
| Tax ID | Business Registration Number |
| Paper size | A4 |
| Typical terms | Net 30 |
| E-invoicing | Mandatory — live |
Tax ID format: A 10-digit Business Registration Number (사업자등록번호) written as XXX-XX-XXXXX, e.g. 123-45-67890..
What South Korean invoices must include
- The word “Invoice” and a unique, sequential invoice number
- The issue date (and the supply date if it differs)
- Your business name, address and Business Registration Number
- The client's name and address (and their Business Registration Number where the local rules require it)
- A clear description and quantity for each line
- The net amount per VAT rate, the rate(s) applied and the VAT amount
- The total payable, in KRW
- Payment terms, the due date and how to pay (bank name and account number or IBAN)
- Supplier & buyer Business Registration Numbers
- Supply value and VAT shown separately
- e-Tax invoice approval number (승인번호)
VAT & reverse charge
For cross-border work, the right wording matters. Invoice Forever offers ready-made South Korean VAT notes such as:
- VAT charged at the standard rate of 10%.
- Zero-rated export of goods or services (VAT 0%).
- VAT reverse charge applies — the recipient accounts for VAT on this supply.
E-invoicing in South Korea
Mandatory e-Tax invoice (전자세금계산서) issuance through the National Tax Service has applied to all corporations since 2011 and to individual businesses by turnover, with the threshold lowered to KRW 80 million in annual supplies from 1 July 2024. Invoices are created as XML, digitally signed with a certificate, delivered to the buyer, and reported to the NTS by the day after issuance.
Invoice Forever can export a structured EN 16931 (UBL) e-invoice alongside the PDF (beta) — the format most of these mandates are built on. You still send it via your own access point, and some countries require their own national format.
Verified 11 September 2026 against the source. E-invoicing rules are changing quickly, so always confirm the current position with the National Tax Service (NTS), which runs the e-Tax invoice system via the Hometax portal before you rely on it. This page is general guidance, not tax advice.
Payment terms in South Korea
Net 30 is the common B2B norm, often tied to an end-of-month closing followed by payment the following month; faster terms are usual for small suppliers and freelancers.
Questions about invoicing in South Korea
The standard VAT rate is 10%, applied to most goods and services. Exports and certain international services are zero-rated.
Yes. A valid tax invoice must show both the supplier's and the buyer's 10-digit Business Registration Number (사업자등록번호) along with the supply value and VAT stated separately.
Yes. Electronic tax invoices issued through the National Tax Service are mandatory for all corporations and for individual businesses above the turnover threshold (KRW 80m in annual supplies since July 2024), and must be reported to the NTS by the day after issuance.
Make an invoice for South Korea, free.
KRW and 10% VAT already set, on A4 paper. No signup, no watermark.