KOREAN NET

Acting Minister of Justice Kim Seok-woo on April 2 holds a news briefing on the launch of the "top-tier" visa system at Government Complex-Gwacheon in Gwacheon, Gyeonggi-do Province. (Yonhap News)

By Yoon Sojung

The "top-tier" visa system launched on April 2 seeks to attract global talent in high-tech sectors.

Acting Minister of Justice Kim Seok-woo that day announced in a news briefing at Government Complex-Gwacheon in Gwacheon, Gyeonggi-do Province, the status and plans for a "customized visa policy" to stimulate regional economies and attract world-class talent from abroad.

This system is designed to attract highly skilled foreign professionals by granting "top talent" residency through the F-2 visa to senior engineers and their families who plan projects and drive technological development in advanced industries that lead international innovation.

This program covers semiconductors, bio, secondary batteries and displays, with robotics and the defense industry to be added.

The visa target is holders of a master's degree or Ph.D. from one of the world's top 100 universities and work experience at a global company or think tank. Candidates must have at least eight years of work experience, including three at a global top 500 company, or a minimum of five years of post-doctorate research experience with at least three at a top global institute plus an annual salary of three times gross national income (GNI) of KRW 149,865,000.

If one's salary is four times GNI or KRW 199,820,000, the educational and work experience requirements are exempted.

Also eligible are foreign graduates of leading domestic universities such as Seoul National, Yonsei and Korea and Pohang University of Science and Technology or those who work at major corporations like as Samsung Electronics, Hyundai Motor, Kia Corp., POSCO, Hyundai Mobis or Samsung C&T. Such personnel and their families can receive the F-2 visa allowing the right to conduct economic activity and residence in the nation, as well the opportunity to obtain permanent residency after three years.

Other benefits include expedited e-visa issuance and convenience of stay through the designation of the Global Talents & Investors Service Center under the Seoul Immigration Office. The K-Tech Pass Program of the Ministry of Trade, Industry and Energy also offers comprehensive support for such expats in taxation, education and housing.

In addition, the Ministry of Justice announced other plans such as a pilot program for the student (D-2) visa to develop cutting-edge industrial personnel in select provincial areas for related departments, allowing internships and part-time jobs for international students during a semester. Another pilot visa project for 14 local government units seeks to stimulate each region's economy.

Acting Minister Kim said, "Starting with the 'top-tier' visa, we will continue expanding the visa system customized for the needs of each field, providing the basis for an advanced immigration policy to helps the economy and regional development as pushed for by the 'new immigration and immigration policy.'"

arete@korea.kr