Startup Korea Special Visa

Startup Korea Special Visa

1. Introduction

The “Startup Korea Special Visa” is an innovative visa program introduced by the Ministry of SMEs and Startups (MSS) in Korea to attract promising global talent and foreign startups. Unlike the traditional Technology and Business Startup Visa (D-8-4), this Special Visa focuses on innovation and feasibility rather than academic or quantitative criteria. In this post, we will delve into the key features, application process, benefits, and requirements of this new visa, referencing the official announcement and related attachments.

2. What is the Startup Korea Special Visa?

• Definition: It’s a new type of visa (D-8-4(S)) issued based on a recommendation following a review of your startup’s feasibility, innovativeness, and growth potential.
• Objective: To encourage foreign startups and entrepreneurial talents worldwide to establish businesses in Korea, creating a more vibrant startup ecosystem and boosting the local economy.
• Regulatory Authority: The Ministry of SMEs and Startups (MSS).
• Relevant Documents:
• “241203 스타트업 코리아 특별비자 추천 수시 신청 공고문(국문)”,
• “Announcement on Application for Recommendations for the ‘Startup Korea Special Visa’”,
• Recommendation application form, Business Plan template,
• Consent to provision, use and collection of personal information, etc.

3. Key Features

1. Evaluation Based on Innovation & Feasibility
• The academic background or OASIS scores are not mandatory. Instead, a panel of experts will evaluate the market potential, innovativeness, and future scalability of your startup.
2. Visa Issuance Even Before Entity Establishment
• You can apply for the visa if you plan to establish a legal entity in Korea within six (6) months.
• This offers flexibility to founders who want to test the waters or prepare for incorporation after arrival.
3. Accessible from Anywhere
• Whether you are in Korea or overseas, you can submit your application. Domestic applicants visit the local Immigration Service office, while overseas applicants can head to the nearest Korean embassy (or consulate).
4. Broad Range of Eligible Sectors
• Traditional trade, simple distribution, or food services are excluded, but AI, Big Data, Blockchain, Bio, Autonomous Vehicles, and other new industries are highly encouraged to apply.
• Startups established within 7 years (10 years for new industries) are generally eligible.

4. Who Can Apply?

1. Basic Eligibility
• A (prospective) startup representative who is a non-Korean national.
• Complies with the Support for Small and Medium Enterprise Establishment Act.
• Operates (or plans to operate) within 7 years (or 10 years for new industry fields) since founding, or commits to incorporating in Korea within 6 months.
2. Co-representatives
• Typically, only one representative is allowed. However, up to three may apply under certain conditions (e.g., operating the same business for over a year, or recommended by a K-Scouter). Each co-representative must apply separately.
3. Exclusions
• Night entertainment businesses, gambling operations, and any business deemed inappropriate under the Enforcement Decree of the Support for SME Establishment Act.
• Applicants in default, with tax arrears, or with significant labor law violations are not eligible.

5. Application Process

1. Recommendation Application
• Apply online (e.g., https://url.kr/kjs21u) and submit the Recommendation application form, Business Plan, passport, and other supporting documents.
2. Review & Presentation Evaluation
• Initial Screening: Checks authenticity and eligibility.
• Presentation: Applicants present their startup’s core concept, competitiveness, and growth strategy (10 minutes + 5 minutes Q&A).
• A review committee makes the final selection based on overall feasibility and innovativeness.
3. Issuance of Recommendation Letter
• Successful applicants receive an official recommendation letter from the MSS, valid for six (6) months.
4. Visa Application
• With the recommendation letter in hand, apply for the D-8-4(S) visa at the local Immigration Service office (for those in Korea) or a Korean embassy (for those overseas).
• Note: Final approval or denial is made during the visa screening process.

6. Required Documents & Attachments

1. Recommendation Application Form
• Contains personal details, basic business overview, and other key information.
2. Business Plan
• Must highlight your startup’s unique value proposition, target market, competitive advantage, and financial projections.
• Keep it comprehensive and consistent to ensure a smooth presentation.
3. Consent to Provision, Use and Collection of Personal Information
• A mandatory form confirming your agreement to data handling processes.
4. Official Announcements (Korean & English)
• Provide in-depth guidelines, eligibility details, and FAQs for further clarity.

7. Why This Visa Matters

1. Global Talent Friendly
• Lower barriers to entry encourage diverse, creative founders to bring innovations to Korea.
2. Strategic Advantage for Startups
• Gives enough buffer (up to six months) to set up an entity, plan MVPs, and explore the local market.
3. Government Support
• Access to potential funding, mentorship, and networking events once recommended by the MSS.
4. Applicable to Cutting-edge Industries
• Ranges from AI and Big Data to renewable energy, space tech, and more, reflecting the Korean government’s commitment to new industries.

8. Important Notes & FAQs

1. Recommendation ≠ Visa Issuance
• The MSS recommendation is not a guarantee. The Immigration Service’s final screening can still result in rejection.
2. Legal Incorporation Commitment
• If you pledge to form a legal entity in Korea within 6 months but fail to do so, you risk losing your visa status.
3. Cooperation with Additional Documentation
• The screening committee may request extra evidence. Inadequate or delayed responses could lead to disqualification.
4. Co-representatives Must Each Apply
• Provide proof of co-representation via corporate registration documents or a letter from a K-Scouter.

9. Conclusion & Attachment Guidance

The Startup Korea Special Visa is a landmark initiative that broadens the door for global innovation to flourish in Korea. By focusing on feasibility, innovation, and growth, it signals a progressive, welcoming stance to overseas entrepreneurs. Ultimately, the goal is to revitalize the Korean startup ecosystem, driving job creation, technology development, and economic growth.

• Attachments for your reference:
1. Recommendation application form
2. Business Plan (template)
3. Consent to provision, use and collection of personal information
4. Official Korean announcement PDF
5. Official English announcement PDF

Link : https://www.k-startup.go.kr/web/contents/bizpbanc-ongoing.do?schM=view&pbancSn=171419