Numbers your headquarters can consolidate.

It depends on size, tested on the preceding fiscal year. Under Article 5(1) of the Enforcement Decree of the Act on External Audit of Stock Companies, a stock company is subject to external audit if total assets are KRW 50 billion or more, or revenue is KRW 50 billion or more, or satisfies at least two of the following four criteria: total assets of KRW 12 billion or more, total liabilities of KRW 7 billion or more, revenue of KRW 10 billion or more, or 100 or more employees. Many foreign-invested subsidiaries cross the two-of-four test long before they approach the KRW 50 billion figures.

Yes. Under Article 5(2), a limited company is caught if it meets the KRW 50 billion asset or revenue test, or three or more of five items — the same four as above plus 50 or more members (사원). Important caveat: a company converted from a stock company (chusik hoesa) to a limited company on or after 1 November 2019 is tested under the stock company standard for five years from the date of the conversion registration. Converting does not switch off the audit requirement immediately.

Employees as defined in the Labor Standards Act, measured at the end of the preceding fiscal year — but the Enforcement Decree specifically excludes dispatched workers under the Act on the Protection of Dispatched Workers, and those falling under Article 20(1) of the Enforcement Decree of the Income Tax Act. If your Korean operation runs heavily on dispatched staff, the headcount that matters may be materially lower than your badge count.

Yes — and doing both in one place is the point. The reporting package and the Korean statutory accounts are built from the same ledger, so the figures HQ consolidates and the figures filed with the Korean tax authority reconcile by construction rather than by a year-end exercise.