Life
Start a business. Get a visa. All in Busan
source: getty image
Foreign entrepreneurs building tech startups in Korea can now earn points toward the Technology Startup Visa (D-8-4) without leaving Busan.
The Busan Global Startup Immigration Center is now open at the Eurasia Platform at Busan Station. Entrepreneurs can find step-by-step support at the center, from preparation to commercialization.
The center runs the Overall Assistance for Startup Immigration System, or OASIS, under joint designation by the Ministry of Justice and the Ministry of SMEs and Startups.
Courses include a basic startup class (OASIS-4), one-on-one coaching and mentorship (OASIS-5), incubation (OASIS-7), incorporation support (OASIS-8) and commercialization support (OASIS-9). Courses earn up to 15 points toward the visa.
The D-8-4 visa is open to foreign nationals who meet four conditions: a bachelor's degree from a Korean or overseas university, an associate degree issued in Korea, or an official letter from the center; at least 60 points out of a possible 200; at least one qualifying asset, such as intellectual property rights or secured investment; and an established corporation.
<Today's Vocabulary - 오늘의 단어>
entrepreneur: 기업가 commercialization: 상업화 overall: 전반적인 assistance: 지원 investment: 투자 corporation: 기업
Editor: Song Soomi
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