■ History of the Enterprise Investment Visa
In order to actively attract foreign investment following the 1997 IMF financial crisis, the Korean government enacted the Foreign Investment Promotion Act, which issued Enterprise Investment (D-8) visas to foreigners who invested 25 million won per person to establish foreign-invested companies. At that time, near Itaewon’s Haebangchon, Nigerians entered in large numbers with their families using enterprise investment visas, which led to the formation of "Nigerian Town." However, most individual business owners were small-scale self-employed individuals with low business and tax performance, so the economic revitalization effect of "attracting foreigners" was minimal. In particular, there were many cases of illegal residents from certain countries using small amounts of investment as a means of staying in the country.
To prevent cases of abuse of Enterprise Investment (D-8) residency status as a means of disguised investment and long-term illegal employment, the Ministry of Justice strengthened the eligibility requirements for Enterprise Investment. The government raised the minimum investment amount per foreign investor to 100 million won or more in 2010. In addition, in 2011, the Supreme Court ruled To qualify as a foreign-invested company under the Foreign Investment Promotion Act, it must be a Korean corporation or a company run by a Korean citizen, so there is no evidence to recognize that the plaintiff's business engaged in the wholesale and retail business of automobile parts and home appliances is a Korean corporation, and the plaintiff is not a Korean citizen. Since it is a foreigner, the company in this case cannot fall under the Foreign Investment Promotion Act under the Immigration Control Act (Supreme Court 2011du 30809).
that individual business owners who are not corporations are not eligible for Enterprise Investment (D-8) residency status under the Foreign Investment Promotion Act. As a result, foreign individual business owners are excluded from being considered foreign investors under the Foreign Investment Promotion Act but are recognized as essential professionals (company managers) who are engaged in company management, trade, and other profit-making activities in Korea and are granted Trade Management (D-9) residency status. In this case, the minimum amount of business funds is adjusted upward from 100 million won to 300 million won, and if the applicant submits documents proving that the business funds were properly remitted (or carried in) from overseas to Korea and there are no disqualifying factors, they are allowed to apply for a Trade Management (D-9) visa and change their residency status.

■ Expatriate Visa
There are two main ways for foreign individuals or companies to enter the Korean market for business purposes. One is through the establishment of a branch or liaison office that falls under the scope of the Foreign Exchange Transactions Act, while the other is through the establishment of a local corporation that falls under the scope of the Foreign Investment Promotion Act. The former is covered by the Resident Visa (D-7), while the latter is covered by the Corporate Investment Visa (D-8).
The Resident Visa (D-7) is issued to individuals who have worked for foreign public institutions, organizations, or companies, such as head offices, branches, and other business offices, for more than one year and who are dispatched to work in affiliated companies, subsidiaries, branches, or offices in Korea as essential professionals (executives, senior managers, professional technicians, etc.). However, if the individual is engaged in national strategic industries or government-funded projects, the one-year work requirement may be waived if recognized as necessary by the Minister of Justice.
It is worth noting that the Ministry of Justice applies a flexible approach in cases where essential professionals are dispatched to affiliated companies designated by the Minister of Justice for the purpose of attracting multinational corporations' subsidiaries. In other words, if a subsidiary (A) located overseas and another subsidiary (B) located in Korea have the same parent company (C), A and B are considered each other's affiliated companies, and an individual who moves from A to B without going through the parent company can also obtain a Resident Visa (D-7). In this case, the dispatched individual must submit a dispatch order (even if dispatched from a branch, the order must be issued by the parent company and must specify the dispatch period) and a certificate of employment. Moreover, if a Resident Visa (D-9) holder moves within the same affiliated company, a change of foreigner registration status declaration is required instead of a work location change permit.

■ Corporate Investment Visa
The D-8 Corporate Investment Visa is issued to individuals who are essential professionals engaged in the management, administration, production, or technology fields of a foreign investment company, or to those who have established a venture company with excellent technological capabilities and have been certified as a venture company, holding intellectual property rights. For example, under the "Foreign Investment Promotion Act," those who bring in more than KRW 100 million of investment funds from overseas to operate a corporation in Korea with Korean nationals or to establish and operate a corporation can apply for a D-8 Corporate Investment Visa. In addition, those dispatched as essential professionals from a Korean-based foreign investment company to their overseas parent company can also apply for the D-8 Corporate Investment Visa. In such cases, the dispatched individual must submit a dispatch order (issued by the headquarters, even if dispatched from a branch office, and specifying the duration of dispatch) and a certificate of employment. However, if a non-foreign investor is listed as an executive officer, it is considered a case of hiring domestically rather than being dispatched from an overseas parent company, and the applicant must apply for the E-7 Specific Activity Visa.
It is not necessary to leave the country to obtain a D-8 Corporate Investment Visa if one enters the country with a short-term visa for 90 days or less or a visa-free entry to establish a foreign investment company. In this case, one can prepare the necessary documents, visit the local immigration office in charge of the place of stay, and apply for a change of status to a D-8 Corporate Investment Visa. Foreigner registration can also be applied for at the same time. However, those who enter the country for group tours or pure tourism, those who enter the country with a C-3 short-term visa as part of a group tour or as an individual for pure tourism, those who enter the country with a D-3 Technical Training, E-9 Non-professional Employment, E-10 Seafarer Employment, H-2 Visit Employment, G-1 Others and H-1 Tourism Employment Visa holders, such as Irish, French, and British nationals, cannot apply for a change of status to a D-8 Corporate Investment Visa in Korea. Therefore, they must leave the country and obtain a D-8 Corporate Investment Visa from a Korean embassy or consulate in their country of residence before entering Korea. However, even if one is not allowed to change their status to a D-8 Corporate Investment Visa, if there are special circumstances such as recognition of the authenticity of the investment (e.g., if the investment amount is more than KRW 300 million or if there are significant investment achievements), a precise examination will be conducted, and a change of status to a D-8 Corporate Investment Visa may be allowed.