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S. Korea to grant permanent residency for foreign investors
SEOUL, Dec. 30 (Yonhap) -- South Korea will allow foreign investors who invest US$500,000 or more in the country to hold permanent residency and loosen regulations on foreign professionals in specified fields entering the country, government officials said Wednesday.
The Justice Ministry said the Cabinet endorsed the revision of the immigration law for foreign investors, which will take effect in January, in a bid to increase investments and lower barriers for foreigners looking to do business here.
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