JEJU-DO < invest Korea

According to Yonhap News,

Jeju will grant the permanent residency to people who specialize in a certain field in an attempt to attract foreign experts.

The Special Act designed by Jeju Special Self-Governing Province will include an exceptional provision to grant the E-5 visa (temporary stay) or F-5 visa (permanent residency) to experts in its core industries including tourism, investment, food, oriental medicine, bio and renewable energy.

Current immigration law gives the E-5 visa to foreign professionals whose certificates are acknowledged in Korea such as lawyers, accountants or doctors.

Jeju expects the exceptional provision to attract foreign talents, which will contribute to boosting its regional economy.

Plus, it is also considering granting the E-7 visa (temporary stay) to foreign teachers who works at international schools within Jeju English Educational City and their partners, graduates of international schools and English native speakers.

"We will give many job opportunities to foreigners to the extent that they won't affect the employment of Jeju residents. We will request the central government that the exceptional provision be included in the special act in the first half of 2013," said Lee Sang-heon, a Jeju Self-Governing Province official.

The central government has agreed to give the five-term residence visa to foreigners who purchase a resort worth more than $500,000 in Jeju and then later automatically grant them the permanent residence since February 2010.

Source Text

Source: Yonhap News (Mar. 13, 2012)

** This is an English translation of a Korean news article.