Busan selects three districts for specialized visa program
The Busan Metropolitan Government announced, Tuesday, that three depopulated districts in Busan have been chosen as target areas for the Ministry of Justice’s regional specialized visa program.
The specialized visa will be granted to foreigners, overseas compatriots and their families who are willing to reside in areas of Busan with a decreasing population, which were selected as target areas for the program, for a specific duration.
To qualify for the visa, individuals must meet specific requirements, such as securing employment or establishing a business locally, which will help them secure their residency status more easily in these allocated areas.
The initiative aims to address the current manpower shortage in local industries while augmenting the foreign population by establishing a conducive environment. It is also expected to stimulate employment opportunities and encourage the founding of startups by foreign nationals.
Busan has been allocated a total quota of 120 such visas, with 40 designated for each of the selected districts — Seo District, Dong District and Yeongdo District.
Additionally, the city plans to recommend outstanding foreign students who have graduated from local universities for potential employment opportunities at companies in Busan.
Last year, the city was chosen for the pilot project of specialized visas for regional areas, with an initial allocation of 110 visas. The city submitted recommendations for 94 individuals to the justice ministry for visa issuance.
The city anticipates that this initiative will revitalize sectors such as shipbuilding, manufacturing, tourism, and services in Busan, where a severe manpower shortage persists due to Korea’s low birthrate, aging population and outflow of young people from the city.
“By attracting talented individuals from overseas and fostering their employment and settlement, the city aims to create a virtuous cycle leading to an expanded local population, increased economic activity, and an influx of residents, ultimately positioning the city as a global hub,” Busan Mayor Park Heong-joon said.