The public interest project investment immigration system refers to a system that grants residence (F-2) status with freedom to engage in economic activities and, if the investment is maintained for five years, grants permanent residency (F-5) status to individuals who have invested 500 million won or more in the designated underdeveloped areas announced by the Minister of Justice or invested in a fund established by the Korea Policy Finance Corporation. For individuals aged 55 or older, the investment amount must be 300 million won or more, and their domestic and overseas assets in their own and their spouse's names must be 300 million won or more. In other words, this system grants residence (F-2) status to foreign investors or executives, shareholders, and accompanying family members of corporations who have completed investments of the benchmark amount or more as designated by the Minister of Justice, and grants permanent residency (F-5) status if they maintain their residence (F-2) status and their investment for five years or more. While holders of the corporate investment (D-8) status need to have business performance to extend their stay, public interest project investors can receive a stay extension even without business performance if they maintain their investment for five years or more.
Meanwhile, if a Public Interest Investment Scheme investor wishes to visit Korea without residing there, they may obtain a multiple-entry visa (C-3) valid for three years to facilitate entry and exit.

< Public Interest Investment Scheme Processing Procedures >


Entry

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Pre-screening/guidance
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Residence Status
Request for change
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Change of residency (F-2) status
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Permanent residence (F-5) status change


As a public-interest project investor, eligibility for an F-2 visa is granted to foreign individuals, executives, or shareholders of corporations who have invested (or deposited) at least 500 million won in the projects specified by the Ministry of Justice. This also includes their spouses and unmarried children. However, for retirement immigrants who are over 55 years of age, they can apply if they invest at least 300 million won in their own and their spouse's names, and have domestic and overseas assets worth at least 300 million won.
There are two types of investment options for the public-interest project investment visa. First, there is a non-interest-bearing principal repayment method where a foreign investor deposits more than 500 million won in a fund established by the Korea Policy Finance Corporation, commissioned by the Ministry of Justice, and obtains permanent residency status after 5 years. Second, there is a profit-and-loss-based method where a foreign investor invests more than 500 million won in development projects in underdeveloped areas designated and announced by the Ministry of Justice in consultation with relevant agencies. In the latter case, since it is a profit-and-loss-based investment, the principal amount is not guaranteed.
Foreign investors who have deposited funds with the Korea Policy Finance Corporation should apply to the Seoul Immigration Office (Sejongno Branch), while those who have invested in development projects should apply to the Immigration Office (branch or office) where the developer is registered. For unregistered foreigners, they should apply to the immigration office in their place of residence.
The required documents include an application form, a copy of passport, a photograph, a fee, proof of investment payment (such as an investment confirmation document stamped by the investment attraction agency director, or a bank transfer record), proof of foreign currency import (such as a foreign exchange purchase certificate, overseas remittance receipt, or remittance confirmation document), and if an individual invests through a corporation, a document proving that the investment money was sent (paid) to the corporation in the name of the investor abroad, and a document proving that the officer or shareholder of the corporation is a current officer or shareholder of the corporation in which the investment was made. For retired immigrant investors, proof of assets worth at least 300 million won (domestic and foreign assets such as deposits and real estate) and other family relationship documents (such as a spouse or unmarried child of a public project investor) are required.