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Foreign Volunteers Join Crime Prevention Patrols in Hongdae

Foreign Volunteers Join Crime Prevention Patrols in Hongdae

SEOUL, May 21 (Korea Bizwire) — Seoul’s Mapo District Office reported on Monday that it will operate teams of volunteer crime prevention guards consisting of foreigners. The patrol team consists of 20 people, including Chinese, Nigerian and Vietnamese volunteers. Twice a week, they will patrol the streets in Yeonnam-dong, near Hongik University Station and in the [...]

Foreign Students Could End Up Paying 7 Times More for Health Insurance Premiums Under Revised Law

Foreign Students Could End Up Paying 7 Times More for Health Insurance Premiums Under Revised Law

SEJONG, May 12 (Korea Bizwire) — Starting in July, foreign students could end up paying about seven times more for health insurance premiums as they do now as a revised law requires them to join the state health insurance system if their stay in South Korea exceeds six months. So far, most foreign students have [...]

Bill Proposed to Qualify Foreigners Earning Degrees in S. Korea for Naturalization

Bill Proposed to Qualify Foreigners Earning Degrees in S. Korea for Naturalization

SEOUL, Apr. 22 (Korea Bizwire) — Foreigners acquiring a bachelor’s or higher degree in South Korea may soon find it easier to become naturalized here, as a group of lawmakers have proposed easing the nationality law to help overcome the nation’s population reduction. Rep. Kim Kyung-jin of the minor opposition Party for Democracy and Peace [...]

Foreigners’ Appetite for Korean Stocks Growing on Hope for U.S.-China Trade Talks, Chip Industry

Foreigners’ Appetite for Korean Stocks Growing on Hope for U.S.-China Trade Talks, Chip Industry

SEOUL, Apr. 10 (Korea Bizwire) — Foreign investors have been increasing their buying of South Korean shares in recent sessions, data showed Wednesday, amid optimism, albeit cautious, over the chip industry and progress in U.S.-China trade deals. According to the data compiled by the Korea Exchange (KRX), foreign investors extended their buying binge to eight [...]

170 Foreigners Acquired Permanent Residence Through Investment from 2010 to 2017

170 Foreigners Acquired Permanent Residence Through Investment from 2010 to 2017

SEOUL, Mar. 18 (Korea Bizwire) — Chinese account for 93 percent of all foreigners who acquired permanent residence in South Korea through investment, according to the IOM Migration Research and Training Center. The center revealed that in the 2010 to 2017 period, there were 1,901 cases of foreigners acquiring an Korean residence visas through investment. [...]

Foreigners Baffled by Complex Process for Year-end Tax Settlement

Foreigners Baffled by Complex Process for Year-end Tax Settlement

SEOUL, Jan. 30 (Korea Bizwire) — At the beginning of each year, a growing number of foreign migrant workers in South Korea are confused and frustrated by the mandatory task of the year-end tax settlement. Under the regulations of the National Tax Service (NTS), all South Korean salaried employees are obliged to file a year-end [...]

Shinhan Card Develops Credit Evaluation Model for Foreigners in S. Korea

Shinhan Card Develops Credit Evaluation Model for Foreigners in S. Korea

SEOUL, Jan. 25 (Korea Bizwire) — High Credit, in-house venture firm of Shinhan Card Co., announced on Thursday that it had developed a credit evaluation model for foreigners living in South Korea. The newly developed credit evaluation model has greatly increased the bank’s ability to differentiate risks by applying non-financial information through big data to [...]

Jeju Island Cracks Down on Korean Migrants Entering Foreigner-only Casinos

Jeju Island Cracks Down on Korean Migrants Entering Foreigner-only Casinos

JEJU, Jan. 22 (Korea Bizwire) — Jeju Island will conduct special monitoring on foreigner-only casinos from January 31 to February 24. The island will organize a team of experts to monitor eight casinos established for foreigners to verify if Korean migrants are taking proper steps to enter the casino. The island will also educate casino [...]