Most Popular
-
1
Thousands rally in Seoul to call for Yoon's resignation
-
2
Suicide attempts spike among youth in Korea
-
3
Opposition mulls delay of financial investment income tax
-
4
Immigration policy must go beyond labor supply: experts
-
5
Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
-
6
[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’
![[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/09/27/20240927050701_0.jpg&u=)
-
7
‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
-
8
Nasrallah's killing reveals depth of Israel's Hezbollah penetration
-
9
Korean American documentary ‘Free Chol Soo Lee' wins Emmy
-
10
S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
![[Weekender] How Seongsu, once an industrial zone, has become ‘Seoul’s Brooklyn’](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/09/27/20240927050701_0.jpg&u=)
Korea will relax requirements for issuing trade visas starting next week in an effort to increase exports of domestic products, the government said Thursday.
The Ministry of Justice said a points system will be introduced from Monday to issue D-9-1 visas to overseas traders who perform export and import activities in Korea.
Previously, the visa type was only provided to those who have a trade performance of $500,000 a year or more, the ministry said in a press release.
With the new system, the ministry will grant visas based on diverse criteria, including the applicant's career, capital, academic background and study experience in Korea, according to the ministry.
The justice ministry said it is expecting to expand the number of foreigners holding the trade visa to some 1,000 by 2018 from about 50 people at the moment.
"With the new system, there may be a rise in outbound shipments that can translate into more jobs being created," a ministry official said.
In 2015, Korea's exports backtracked by around 8 percent on-year while imports nosedived by some 17 percent, fueling concerns that the country's main economic growth engines were losing steam. (Yonhap)
The Ministry of Justice said a points system will be introduced from Monday to issue D-9-1 visas to overseas traders who perform export and import activities in Korea.
Previously, the visa type was only provided to those who have a trade performance of $500,000 a year or more, the ministry said in a press release.
With the new system, the ministry will grant visas based on diverse criteria, including the applicant's career, capital, academic background and study experience in Korea, according to the ministry.
The justice ministry said it is expecting to expand the number of foreigners holding the trade visa to some 1,000 by 2018 from about 50 people at the moment.
"With the new system, there may be a rise in outbound shipments that can translate into more jobs being created," a ministry official said.
In 2015, Korea's exports backtracked by around 8 percent on-year while imports nosedived by some 17 percent, fueling concerns that the country's main economic growth engines were losing steam. (Yonhap)
