📌 Key Revisions in the D-8 Visa Guidelines
The updated guidelines aim to promote foreign investment, stimulate economic activity, and create domestic jobs by eliminating unreasonable regulations affecting foreign investors. They also seek to expand opportunities for foreigners with excellent ideas to start businesses in Korea.
1. Relaxation of Personnel Limitations at Foreign-Invested Companies
Previous: The number of “essential professional personnel” allowed to work at a foreign-invested company was limited to 1 person per 100 million KRW of investment.
Revised: Additional personnel may be allowed based not only on investment amounts but also on domestic employment, tax payments, and other criteria.
For example:
1 additional person per 3 domestic employees employed for over 6 months
1 per 100 million KRW annual tax contribution
1 per 1 billion KRW annual revenue
2. Relaxation of Restrictions on D-8 Visa Status Changes
Previous: Foreign residents wishing to change to D-8 status from Technical Training (D-3), Non-professional Employment (E-9), Seafarer Employment (E-10), or Other (G-1) visas could only do so for investments of 500 million KRW or more, and only with headquarters approval.
Revised: For those who have invested over 300 million KRW abroad, visa status changes can now be approved by the Commissioner, Director, or Branch Director without needing headquarters approval.
3. Clarification of “Essential Professional Personnel” Scope
Previous: Visa screening applied the “essential professional personnel” requirement to individual investors establishing and operating foreign-invested companies.
Revised: Individual investors directly establishing and operating foreign-invested companies are automatically recognized as essential professional personnel managing the company.
4. Removal of Academic Requirements for Startup Preparation (D-10-2) Visas
Previous: Applicants were required to hold a bachelor’s degree or higher.
Revised: Academic requirements are removed for foreigners recommended by the Global Startup Immigration Center for having excellent technical skills.
Recognized institutions include the Korea Invention Promotion Association, Korea Productivity Center, Seoul Business Agency, and Korea IT Industry Promotion Agency.
5. Addition of Requirements for Technology Startup (D-8-4) Visas
Previous: No benefits existed for prospective technology startup founders who secured investment from venture capital or other investment firms.
Revised: Prospective technology startup founders who secure 100 million KRW or more in investment from domestic or foreign investment firms will be granted a Technology Startup visa immediately.
6. Restructuring and Expansion of Technology Startup Education Courses
Previous: Basic technology startup education courses included basic and advanced intellectual property education and entrepreneurship education.
Revised: Redundant courses are removed, and the Global Startup Immigration Center can now offer flexible and elective courses tailored to the needs of participants.
📅 Implementation Date
The revised guidelines came into effect on May 1, 2019.