South Korea to alleviate visa rules to attract foreign talent

December 22, 2014
South Korea to ease visa rules to attract more overseas skilled workers

Labour ministry of South Korea stated that, its government is about to advance its visa issuing system to grab the attention of more number of overseas skilled workers and to enhance the downturned labour force of the country.   

To surge the inflow of skilled labors to the country, their government is planning to exempt the point-based system for issuing of visas. As per the existing system, overseas nationals who stay for minimum of one year and scores high points will be granted F2 visa and the F5 permanent stay visa for individuals who stay for more than 3 years in the country. 

As per the new norm individuals holding F5 visa will be granted permanent residence, if he or she stays in the country for a minimum of one year, according to the government.

The ministry further noted that, skilled workers who meet the norms for investment amount and income and the students pursuing their masters in foreign universities are allowed to reside in South Korea with their near and dear ones. 

Their government is also planning to improve the links between the companies and schools, and to exempt the norms for employment to offer more job opportunities for students pursuing their higher education in its universities.  

Inorder to restrict the pay gap between the irregular and regular skilled labors, its government is planning to surge the stability and flexibility of the worker market. The country’s government is about to put the new act under discussion in trilateral agency on behalf of the labors. By year end, the government will make an agreement on the new reform.

With the enhancing flexibility, other attempts such as work hours, wages, exempting norms and work contacts will be directed later, according to the ministry.

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