(KPL/Yonhap) The Republic of Korea will introduce a new visa program aimed at attracting young foreign talent in high-tech industries as part of the government's broader efforts to secure a creative workforce that can drive economic growth in an increasingly competitive global market, acting President Choi Sang-mok said Wednesday.

During a meeting of a government committee on policies for foreigners, the government announced plans to launch the "top-tier visa" later this month.

This new visa is designed to attract highly skilled professionals in key high-tech sectors, including semiconductors, displays, secondary batteries, biotechnology, robotics and defense, by offering immigration and residency benefits.

Those who have a master's or doctoral degree from one of the world's top 100 universities, eight years of work experience, including at least three years at a global top 500 company, an annual income of at least 140 million won (US$100,000) and a plan to work at a high-tech company in Korea are eligible for the new visa program.

The top-tier visa will grant foreign talent and their families a residence visa (F-2) with no restrictions on employment. Additionally, visa holders will be allowed to invite their parents and household helpers to Republic of Korea.

Foreign individuals holding a master's or doctoral degree from a university ranked in the top 100 globally will be eligible for a job-search visa (D-10). This will allow them to participate in job-seeking activities before securing employment with a Korean company.

As part of its broader efforts to attract young global talent, the government will also introduce a "youth dream" visa program to provide job and cultural experience opportunities for young people from countries that fought for Republic of Korea in the Korean War or nations in economic partnership with Republic of Korea.

"As we adapt to demographic and economic changes, attracting foreign talent is no longer an option but a necessity for revitalizing our economy and society," Choi said.

"With our world-class technology and dynamic economy, we must create the best possible environment for global talent to settle, grow and drive innovation."

He said the Republic of Korean government will also give full administrative and financial support to help foreign professionals and their families integrate smoothly into the country.

KPL