On June 13, 2018, at the Education and Culture Center of Itaewon Elementary School in Yongsan-gu, Seoul, Uguoma Obinna Samuel, a 52-year-old factory worker from Nigeria, checks the voter list at a polling station for the local elections. Foreign nationals who have held South Korean permanent residency for at least three years and are registered in the local government’s foreign resident registry are eligible to vote in local elections. (Yonhap)
SEOUL, March 5 (Korea Bizwire) — As countries worldwide adjust their immigration policies, South Korea’s permanent residency system is drawing increased interest, particularly as the nation seeks to attract skilled foreign workers amid demographic challenges.
While the United States recently made headlines with a proposal to sell permanent residency for $5 million, South Korea’s own system has quietly gained prominence. Once primarily offered to ethnic Chinese Koreans, permanent residency in the country has expanded over the past two decades to include marriage migrants, foreign workers, and investors.
On the afternoon of July 13, 2023, at HanHakChon in Keimyung University, Dalseo-gu, Daegu, foreign students participating in the ‘2023 Korean Language and Culture Camp’ learned traditional tea ceremony etiquette while dressed in Hanbok. (Yonhap)
Surge in Permanent Residency Holders
Since the introduction of its residency program in 2002, the number of permanent residents in South Korea has surged more than thirtyfold. According to the Ministry of Justice, as of last year, over 202,000 foreign nationals held permanent residency, compared to just 6,000 in 2002.
Asia accounts for the overwhelming majority (96.6%) of South Korea’s permanent residents, followed by Europe (1.6%), North America (1.3%), and smaller numbers from Oceania, Africa, and South America.
Ethnic Korean Chinese (Joseonjok) represent the largest group at 64%, followed by Chinese nationals (18.5%), Taiwanese (5.1%), Japanese (3.4%), and smaller percentages from Uzbekistan, Vietnam, and the United States.
On April 28, 2024, three days before International Workers’ Day, migrant workers gathered at a May Day rally in Seoul Station Plaza, listening to testimonies from victims of wage theft. (Yonhap)
Stringent Requirements for General Residency
Acquiring permanent residency in South Korea involves meeting strict income, cultural, and character requirements. The income threshold varies by visa type, but most applicants must earn at least one to two times the country’s per capita Gross National Income (GNI).
As of 2023, the per capita GNI stood at approximately 44 million KRW ($30,300). This means general permanent residency (F-5-1) applicants need an annual income of around 90 million KRW ($62,000).
For marriage migrants (F-5-2) and ethnic Korean overseas residents (F-5-6), the income requirement is lower. In cases involving minor children, the threshold can be reduced to 80% of GNI.
Applicants must also demonstrate proficiency in the Korean language, laws, and culture, typically by completing the government’s KIIP (Korea Immigration & Integration Program) or passing a comprehensive residency exam. Additionally, background checks ensure that applicants have no significant criminal records and adhere to South Korean laws.
However, certain highly skilled individuals—including Ph.D. holders, specialists in designated fields, and those recognized for exceptional contributions to Korea—may have some requirements waived or eased.
Foreign college students learn K-pop dance during a summer school program at Pusan National University in Busan, some 320 kilometers southeast of Seoul, in this July 16, 2024, file photo. (Image courtesy of Yonhap)
Investment-Based Residency and Economic Impact
South Korea introduced an investment-based residency program in 2010 to attract foreign capital. Initially, foreign nationals who invested at least 500 million KRW ($345,000) in real estate in Jeju Island could obtain permanent residency after five years.
That threshold has since doubled to 1 billion KRW ($690,000), and the program has been rebranded as the ‘Tourism and Leisure Investment Residency Program.’
Other regions, including Incheon, Pyeongchang, Busan’s Haeundae district, and Yeosu’s Gyeongdo, have adopted similar investment residency schemes. The program has been effective—Jeju alone attracted over 1 trillion KRW ($690 million) in investments between 2010 and 2014.
As a result, the number of real estate investment-based permanent residency holders grew from 58 in 2017 to over 700 by late 2024.
A foreign family experiences rinsing their hair with water boiled with calamus roots at Ochondaek inside the National Museum of Korean Folklore in Jongno-gu, Seoul, on the afternoon of June 5, just five days before the traditional Dan-oh holiday. This custom, practiced since ancient times, is believed to ward off bad spirits and maintain healthy hair during the hot summer solstice.
Balancing Immigration with Economic and Social Needs
With South Korea facing a rapidly aging population and declining birth rates, experts emphasize the importance of attracting skilled and dedicated foreign residents.
The number of long-term foreign residents nearly doubled from 1 million in 2010 to 1.96 million in 2024, with the average length of stay increasing from 3.6 years in 2015 to 6.3 years in 2024.
Gwak Jae-seok, head of the Korea Institute for Overseas Koreans & Migration Policy, highlighted that South Korea is aging at an unprecedented rate and lacks a long-term strategy to sustain its workforce. “Unlike countries that have had decades to adapt, South Korea needs solutions for the next 10 to 20 years,” he noted.
However, concerns remain about balancing foreign labor with job availability and social services for Korean citizens. Choi Seo-ri, a research fellow at the Korea Immigration Policy Institute, argued that a successful talent acquisition strategy must integrate immigration policies with economic and social policies.
“To remain competitive, South Korea must ensure that skilled professionals find not only career opportunities but also a supportive living environment,” she stated.
Sociology professor Seol Dong-hoon of Jeonbuk National University emphasized the need for a structured immigration framework. “We need a mechanism that brings in immigrants in the right numbers and for the right roles,” he said. “At the same time, we must make regional living attractive by creating high-quality jobs and vibrant communities.”
As South Korea navigates the complexities of immigration, its approach to permanent residency will likely continue evolving to balance economic growth, social stability, and national interests.
On July 1, 2024, at the Sojubang in Gyeongbokgung Palace, Seoul, attendees of the ‘Midday Culinary Experience’ event for multicultural family marriage migrants sampled traditional Korean royal cuisine. (Yonhap)
Lina Jang (linajang@koreabizwire.com)
