This undated file photo shows the national flag of South Korea hanging at a war memorial in central Seoul. (Yonhap)
SEOUL, Jan. 3 (Korea Bizwire) — The government will introduce a new system to make it easier and faster for foreign talent with a specialty in science and technology to acquire permanent residency status and nationality, thus enabling them to settle in South Korea.
The Ministry of Justice that it will start the Permanent Residency and Naturalization Fast Track System for High-Caliber Science and Technology Talent in full swing this year.
Accordingly, foreigners who have acquired master’s or doctorate degrees at science and engineering-specialized institutions such as the Korea Advanced Institute of Science and Technology will be given residency status based on the recommendations of the deans of the institutes.
If they satisfy some requirements related to their research careers and track records, they can acquire permanent residency status. If their research performance is outstanding, they can obtain Korean citizenship through the nationality deliberation committee.
Previously, foreigners who received master’s degrees or doctorates in South Korea needed to spend more than six years to acquire permanent residency status and citizenship since they needed to go through four or five stages of procedures.
If the fast track system is implemented, foreigners who acquire master’s degrees or doctorates at science and engineering-related institutes will be able to acquire permanent residency status and citizenship in just three years after going through three stages of procedures.
Kevin Lee (kevinlee@koreabizwire.com)
