Key Points
- Certain foreign nationals must report their annual income and occupation information
- Changes apply to D-7, D-8, D-9, E-1, E-10, F-2, F-4, F-6, and H-2 categories
- Foreign nationals must submit a second report if their income information changes
- Employers and employees should anticipate longer processing times with the new requirement
Overview
Foreign nationals with status of stay for employment must now report their annual income and occupation information as mandated by the South Korean immigration authority.
Who is Affected?
The changes apply to the following categories:
- Intra-Company Transfer (D-7)
- Corporate/Foreign Investor (D-8)
- International Trade (D-9)
- Professor (E-1)
- Maritime Crew (E-10)
- Resident (F-2)
- Marriage Migrant (F-6)
- Work and Visit (H-2)
Foreign nationals in the categories above must now report their annual income and occupation when filing their applications with South Korea's immigration authority. Foreign nationals with Overseas Korean (F-4) status are only required to report their occupation when filing a registration application.
What Should Employers and Applicants Know?
Affected foreign nationals must submit report forms called "Certificate of Income Amount issued by tax authority" and "Occupation and Annual Income." E visa holders must submit an "Employment Contract" form if they do not provide their income when they file the Alien Registration.
Foreign nationals can report their annual income and occupation information upon filing for an Alien Registration, Change of Sojourn Status, Extension of Sojourn Status, Granting Status of Sojourn, Change or Addition of Workplace, and Engage in Activities not covered by the Status of Sojourn.
Foreign nationals who make any changes to their income must submit a second report reflecting the changes. This requirement applies to workers whose income levels range from under KRW 10,000,000 to over KRW 50,000,000. Changes to "no income" must be reported as well.
Looking Ahead
The changes mean that employees must complete an extra step to maintain their immigration status. Employers should anticipate longer application processing times as a result.
Originally published 17 December 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
