First of all, in order for an overseas Korean to apply for permanent residency, they must meet the basic requirements, which include: ▴having the ability to support oneself and family members, ▴possessing the basic qualifications required to continue to reside in South Korea, ▴having good conduct, and so on.

■ An individual who has resided in South Korea for 2 or more years with a foreigner of Korean descent (F-4) status and meets one of the following requirements:

√ Those whose annual income when applying for permanent residency is equal to or greater than the previous year's Gross National Income (GNI) per capita as announced by the Bank of Korea (In 2018, the GNI per capita announced by the Bank of Korea was 36.79 million won).
· In this case, when combining the annual income with that of living together family members (spouse, parents, and underage children) from the past year, the applicant's own income should account for at least 50%, except for cases where the applicant is raising underage children or is an underage child.
√ Those who are 60 years old or older and receiving a pension from overseas with an annual pension amount equal to or greater than the previous year's GNI per capita as announced by the Bank of Korea
√ Those who have paid property tax of KRW 500,000 or more in the previous year
√ Those who do not have a record of paying property tax in the previous year but have a net asset amount equal to or greater than the average net asset amount of the previous year, including housing ownership, rental deposit, savings, and deposits in their name.
· Net assets refer to the amount of assets minus the amount of debt. In 2018, the average net asset per household was KRW 340.42million.
· The property tax payment record or net assets can be combined with that of living together family members (spouse, parents, and children) from one year before the date of application for permanent residency. However, the property tax payment or net asset of the applicant should be at least 50% of the standard amount, except for cases where the applicant is raising underage children or is an underage child.
√ Those who have an annual trade volume of KRW 2billion or more with Korean companies
· The required documents include proof of employment, copy of family register or business registration certificate, proof of import and export (e.g. bills of lading), and annual tax payment certificate.
√ Those who have invested USD 500,000 or more in the Korean won equivalent
√ Those recommended by the head of an overseas embassy as a representative of a recognized overseas Korean organization (including those who have served as representatives of overseas Korean organizations for the past three years) or as a representative of a corporate entity.


Recently, the income requirements for overseas Korean nationals (F-4) to change their residency status from F-4 to permanent residency (F-5-6) have been relaxed from twice the Gross National Income (GNI) to equal or greater than the GNI. Additionally, the requirements for Korean language proficiency exams and social integration programs have been exempted as basic qualifications, creating a good opportunity for F-4 holders to apply for F-5-6 permanent residency. Once someone obtains F-5-6 permanent residency, they can reside in South Korea without any employment restrictions based on their residency status and can renew their residency permit every 10 years. Alternatively, while spouses of F-4 holders can only apply for short-term visitor (F-1) residency status and cannot work, spouses of F-5-6 holders can apply for long-term residency (F-2) and are eligible to work.
On the other hand, if a person who has stayed in Korea for two years with an overseas Korean Residence Status has violated the Immigration Control Act or penal laws when applying for a permanent Residence Status, he or she will undergo a criminal review. At this time, depending on the amount of the fine and the details of the violation, the application for permanent residence status may be disapproved, so it is recommended to consult with an expert such as an immigration officer in advance. Please note that overseas Koreans with residence permits may be investigated for illegal employment if they submit proof of income from simple labor businesses such as restaurants, construction sites, or entertainment establishments as income requirements when applying for permanent residency status. Overseas Koreans with a residence permit can start a business in Korea if they register as a business, and if they work in a manufacturing company or company, they need to submit a certificate of employment.

■ Eligibility criteria for those who are engaged in employment activities in manufacturing, agriculture/livestock, fisheries, caregiver, or domestic helper positions under the H-2 visa status and meet all of the following conditions:
First, those who have been continuously employed for 4 years or more without changing their workplace within the same company. However, if the change of workplace within the same industry occurred due to unavoidable reasons such as wage arrears or the closure of the affiliated company, such cases will still be recognized as continuous employment. In addition, if the applicant has worked for 4 years or more and has fully departed from Korea but re-enters Korea within 1 year with an H-2 visa and works for 2 years or more in the same company or industry, it will be recognized as continuous employment for 4 years or more.
Second, those who have acquired a technical or functional certification administered by the Korea Industrial Training Corporation or have an annual income that is equal to or greater than the previous year's Gross National Income (GNI) per capita announced by the Bank of Korea when applying for permanent residency (only the applicant's income will be considered).
Third, those who have the ability to support themselves, such as holding assets worth more than KRW 20 million or supporting their livelihood with their family members (spouse, parents, children) whose combined income can be counted from one year before the date of application. However, the applicant's property tax payment records or net assets must be greater than 50% of the standard amount.
The required documents for the application include proof of employment, such as a work certificate or career certificate, proof of a deposit balance of KRW 20 million or more for the past year, technical/functional certification, proof of income (in principle), or a withholding tax receipt for employment income.