South Korea | Digital nomad “workation” visa pilot launches

South Korea has launched a digital nomad visa for overseas remote workers.

Key Points:

• Foreigners who belong to overseas companies, who can work remotely and who have worked in the same industry for at least one year are eligible along with their families.
• Candidates for the digital nomad visa must have an annual income of at least 84.96 million won (about US$65,550) and personal health insurance of at least 100 million won.
• The visas are valid for one year from the entry date and can be extended for an additional year.

Background: The digital nomad visa allows some foreign residents to stay in South Korea for up to two years while maintaining jobs in their country of origin. Considered a “workation” visa, the digital nomad visa allows qualified foreign employees to reside in various regions of South Korea and revitalize the economy. However, they are restricted from working for South Korean employers during their stay unless they obtain a separate work visa.

This alert has been provided by the BAL Global Practice Group.

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