South Korea to Introduce a New Visa for Foreign Specialists by the End of March

South Korea is launching a new visa program aimed at attracting young foreign professionals to its high-tech industries, reports Yonhap News Agency. The project is part of the government’s broader strategy to bring in creative talents who can drive the country’s economic growth.

Acting President Choi Sung Mok announced the initiative during a foreign policy committee meeting, describing it as a “top-tier visa.” The visa is designed to attract highly skilled professionals in key industries, including semiconductor manufacturing, displays, secondary power sources, biotechnology, robotics, and the defense industry.

Eligibility Criteria for the "Top Visa"

To qualify for the new visa, applicants must meet strict requirements, including:
- A master’s or doctoral degree from one of the top 100 universities in the QS or THE rankings
- At least eight years of professional experience, including a minimum of three years working at one of the world’s top 500 companies
- A confirmed job offer in South Korea with an annual salary of at least 140 million won ($96,000 USD)
- Proven achievements in scientific research, innovative development, or other high-tech fields

"As we adapt to demographic and economic changes, attracting foreign professionals is not just an opportunity but a necessity for revitalizing our economy and society," emphasized Choi Sung Mok. "With our world-class technology and dynamic economy, we must create the best conditions for talented individuals from around the world to settle in South Korea, grow, and drive innovation.”

The South Korean government has also pledged full administrative and financial support to help foreign professionals and their families integrate smoothly into the country.

Residence and Tax Benefits

According to Visit World, the program allows successful applicants to obtain a South Korean residence permit (F-2) for three years, with the possibility of renewal. They can later apply for permanent residency (F-5). The program also offers tax benefits and research grants to support scientific and technological projects.

However, experts note that the strict eligibility criteria may limit the number of successful applicants. South Korea already offers several work visas to attract skilled foreign workers, as highlighted by the Seasonal Work Visa portal.

Existing Work Visas for Skilled Workers in South Korea

The E-7 visa category includes:

E-7-1 – For professionals with a bachelor’s degree or higher in fields like engineering, medicine, law, and education
E-7-2 – For exceptionally skilled individuals in arts, sports, or other specialized fields
E-7-3 – For investors and entrepreneurs contributing to South Korea’s economy
E-7-4 – For skilled workers who have legally worked in South Korea for at least four years under specific visa types (E-9, E-10, or H-2)

South Korea’s Growing Demand for Foreign Specialists

Experts emphasize that South Korea faces a demographic challenge, with a declining birth rate and an aging population. However, the country remains a global economic hub with numerous job opportunities in technology, healthcare, and industry.

The most in-demand fields include:
- Medical professionals: 60-90 million won ($45,000 – $67,500 per year)
- Engineers & IT specialists: 50-80 million won ($35,500 – $60,000 per year)
- Robotics experts: 70-100 million won ($52,500 – $75,000 per year)
- Machinists, welders, installers: 30-50 million won ($22,500 – $37,500 per year)
- Carpenters, electricians, plumbers: 40-60 million won ($30,000 – $45,000 per year)
- Agricultural specialists: 30-50 million won ($22,500 – $37,500 per year)

Foreign workers can bring their families and enjoy social benefits, including health insurance and pension schemes, but they must contribute to the national social security system.

With South Korea’s strong economy and global influence, this visa program represents a major step in attracting top international talent and ensuring the country’s long-term economic growth.