The South Korean government will introduce incentives and new visa for proactive employment of foreign nationals to compensate for a thinning and graying population.

The Ministry of Economy and Finance on Wednesday came up with an agenda addressing problems stemming from the aging society and demographic challenges.

The plan includes a new visa system for well-educated and high-income foreigners, allowing them to enjoy benefits like longer stay and work in Korea, as well as visit with family to the country.

In the longer term, a tailored service will be offered to the foreigners to help their entry into and departure from Korea, job search, medical consulting and child education.

The latest plan is aimed at drawing more highly-educated and skilled labors from overseas as most of foreigners currently engage in simple, repetitive and low-skill tasks that are not in need of professional expertise in Korea.

As of July, 48.6 percent out of 1.07 million foreigners residing in Korea with work visa were non-professional workers. Non-Korean nationals expanded from 1.4 million in 2011 to 2.37 million in 2018, but the number of skilled labors fell to 48,000 from 47,000 over the cited period.

Outside talents living in sparsely populated areas will be given various incentives such as some plus points for permanent residency as part of the plan. A violation of the law that has restricted foreigners to extending visa validity will be subject to a penalty only, a move that can also help raise up to government revenue of 195.7 billion won per year, according to the ministry.

By Sohn Il-seon and Lee Ha-yeon

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]