- ASIA EDUCATION REVIEW - APRIL 202588ERNEWS South Korea introduced its `Top-Tier' visa program as an attempt to lure foreign talents from other nations working in high-tech industries. Making the announcement, Acting Justice Minister Kim Seok-woo revealed plans for a tailored visa policy to spur regional economies while introducing global talents to the nation, VisaGuide.The system seeks to attract highly skilled foreign professionals through the introduction of the F-2 visa to lead engineers and their dependents who organize projects in industries that contribute to international innovation.The program includes biotechnology, semiconductors, and secondary batteries. Robotics and defense remain to be included. The visa is reserved for those professionals who possess a master's or PhD from the world's best 100 universities and also some experience with a global company or think tank.In the case of being eligible for this program, candidates should fulfill the following requirements: Possess a minimum of eight years of work experience, considering three years with a top 500 global company, or Hold a minimum of five years of post-doctorate research, out of which three years in a world-class institute.Also, the candidates should earn a minimum of KRW 149,865,000 per annum ($102,500), which is three times the gross national income of South Korea. But if someone earns higher or four times the GNI (KRW 199,820,000) then he/she is exempted from education and work experience criteria. `Top-Tier' Visa to Boost South Korea's Economy. The `Top-Tier' Visa plans were revealed last month in a meeting conducted by South Korean authorities at the Government Complex Seoul on March 5.At that time officials announced that the roll-out of the plan would be carried out in March 2025. Additionally, South Korean authorities stated they aim to bring more than 1,000 experienced engineers from foreign tech firms. The new initiative is anticipated to promote the economic growth of the country by drawing many foreign talents, particularly young researchers and up-and-coming professionals.Among the advantages of acquiring this type of visa is that the government of South Korea intends to decrease income tax. South Koreans have to pay between six and 45 percent in income taxes based on income, whereas foreigners will enjoy a preferential tax rate of more than 19 percent on their net annual salary. ERSOUTH KOREA LAUNCHES NEW VISA FOR HIGH-CALIBER GLOBAL PROFESSIONALS
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