South Korea permanent residence (F-5)

Investors in the public business investment immigration scheme who keep their investment for five years on F-2, together with their spouse and qualifying children, can change to F-5. D-8-4 technology start-up founders with three years in Korea who have attracted KRW 300 million of investment and employ two or more Koreans are another listed route.

Table 1-3 of the Enforcement Decree lists, among others: adults who have stayed five years or more on statuses from Intra-company Transferee (D-7) to Specially Designated Activities (E-7) or on Resident (F-2); spouses or minor children of Korean nationals or F-5 holders who have stayed in Korea for two years or more; foreign investors of USD 500,000 under the Foreign Investment Promotion Act employing five or more Koreans; holders of a doctorate obtained abroad in certain fields who are employed in Korea, and holders of a Korean doctorate; bachelor's degree or technical qualification holders in designated fields with three years in Korea earning at least the wage set by the Minister of Justice; people of outstanding ability in science, management, education, arts or sports; and people aged 60 or over receiving at least the pension set by the Minister from abroad.

Applicants must not fall under the deportation grounds in Article 46 of the Immigration Act and must meet the Ministry of Justice's requirements on livelihood, basic knowledge of Korean society and good conduct. Typical documents are the application form, passport and residence card, proof of income or assets, tax payment certificates, a criminal record certificate and documents specific to the route. Detailed lists are in the HiKorea residence manual.

A change of status to F-5 costs KRW 200,000 and reissuing a permanent residence card KRW 35,000 under Article 72 of the Enforcement Rule of the Immigration Act.