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Function of Notarization System

• Absolute evidence - Notarized documents are used as strong evidence in litigation since they are presumed to be authentic in civil litigation, and their admissibility of evidence is recognized in criminal litigation. (Various contracts, agreements, memoranda, statements, certificate of translation, certified copy, etc.)
• Secured bonds, rapid execution - A notarial certificate (certificate of execution) with a sign of enforcement approval is recognized to have power of execution and can be enforced without going through court rulings. (Promissory note, notary certificate of loan, notary certificate of quasi-loan agreement, etc.)
• Simple and clear inheritance - Notarized will does not require court approval and simplifies the registration of inheritance. Legal disputes among heirs can be prevented and rights can be executed without the risk of forgery or tampering.
• Prevention of disputes caused by corporate operation - By notarizing the initial articles of incorporation and minutes (general meeting of shareholders, board of directors), disputes caused by the corporate operation can be prevented.
• Reduced risk of document loss - Notary must keep notarized documents in a solid facility for a long-term period, thus the notarized documents are free from risk of loss. (Article 5 of the Rules on the Preservation of Certified Documents)

Notarial Service Fees (Rules on Fees of Notary Public)

Fees for the preparation of notarial deeds on juristic acts (Article 2)
Up to 2 million won -- ---- 11,000 won
Up to 5 million won -- -- -- 22,000 won
Up to 10 million won ----- 33,000 won
Up to 15 million won -- -- -- 44,000 won
Exceeding 15 million won ------- 44,000 won + (value of the object - 15 million won) X (3/2,000)] (Provided, that, it shall not exceed 3 million won)

Authentication Fees [Article 20]
Fees for authentication on deeds signed by a private person ----- shall be 5/10 of the fees for notarial deeds but shall not exceed 500,000 won
Fees for authentication on oath ----- shall add 5/10 to the fees specified in the above paragraph 1 but shall not exceed 750,000 won
Fees for authentication on deeds written in foreign language signed by a private person – shall be twice the fees specified in the above paragraph 1 but shall not exceed one million won
Translation authentication fees ------ 25,000 won
Authentication fees for corporate minutes -- -- -- 30,000 won [Article 21]
Inconvertible date fees for notarial deeds signed by a private person ----- 1,000 won [Article 22]
Fees for granting execution clause ------ 10,000 won (Article 23)
(Provided, that, 20,000 won shall be each added to the succession, multi-copies, re-grant of execution clause)

Preservation of a copy of certificate. In the case of notarial deeds signed by a private person, a fee of 500 won per sheet shall be additionally collected depending on the number of pages of the copy of certificate in accordance with the Methods of Handling Affairs on the Collection of Fees for Preservation and Production of a Copy of Certificate (Enforced on April 1, 2019 - Korea Notaries Association)

Notarization protects clients’ legal rights by publicly proving sfacts or legal relations and preventing disputes in advance.

For Detailed Inquiries
Notarial Service Tel : (02)2018-1544
Person in Charge : Yoo Jeong-ran
Direct Line : (02)2018-1542
E-mail : jryoo@apexlaw.co.kr