South Korea said on Wednesday it plans to create a new visa to attract high-level foreign talent for advanced industries such as artificial intelligence, semiconductors, batteries, bio and robotics in a bid to reboot Asia’s fourth-largest economy.“Major countries such as the US, Japan and Singapore are providing bold incentives to secure talent in high-tech industries such as artificial intelligence, semiconductors and bio,” Acting President and Minister of Economy and Finance Choi Sang-mok said.“We, which also have world-class technology and dynamic economic environment, must create an optimal environment for overseas talents to settle and grow to lead global innovation,” Choi said.
The government plans to issue so-called “top-tier visas” for foreigners with work experiences for more than eight years, including three years in the world’s 500 largest companies, after earning master’s or doctoral degrees from the world’s top 100 universities.
Those eligible for the visa are required to receive an annual salary of at least three times the country’s gross national income (GNI) per capita, or about 140 million won ($96,319), and plan to work for high-tech companies in South Korea.
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