ASIA PLAT

E-7 Visa: A Preferred Path for Foreign Employment in Korea

One area that has gained significant attention in recent years is the growth of the startup ecosystem in Korea. The Korean government has been actively promoting the development of the startup industry, and this has created new opportunities for foreign talent to contribute their expertise.

Startups in Korea, particularly in the technology and innovation sectors, are increasingly seeking to hire skilled foreign professionals to drive their growth and expansion. This has led to a growing demand for E-7 visas, as startups look to leverage the specialized skills and expertise of international talent.

By providing a pathway for foreign professionals to work in Korea's thriving startup ecosystem, the E-7 visa has become an attractive option for those seeking to be part of the country's entrepreneurial and technological advancements.

In conclusion, the E-7 visa remains a popular choice for foreign nationals seeking employment in Korea, particularly in specialized fields and the growing startup ecosystem. While the eligibility criteria are stringent, the benefits of the E-7 visa, such as flexible employment, potential for permanent residency, and family considerations, make it a compelling option for those looking to contribute their skills and expertise to the Korean job market.

What is the E-7 Visa?
The E-7 visa, also known as the "Specific Activity" visa, is a popular option for foreign nationals seeking employment in Korea. This visa is granted to individuals with specialized skills or expertise in a particular field, allowing them to work in Korea. The process of obtaining an E-7 visa involves meeting specific eligibility criteria set by the immigration authorities, as well as demonstrating the necessity for employing a foreign worker over a Korean national.

Eligibility Criteria for E-7 Visa
● Specialized Skills or Expertise: Applicants must possess specialized skills or expertise that are deemed necessary for the Korean job market. This can include professions such as engineering, IT, finance, or other specialized fields.
● Minimum Educational Requirement: Applicants typically need to have a bachelor's degree or higher, or equivalent work experience, in the relevant field.
● Employer Sponsorship: Applicants must have a job offer from a Korean employer who is willing to sponsor their E-7 visa application.
● Salary Requirement: The offered salary must meet the minimum threshold set by the immigration authorities, which is intended to ensure that foreign workers are not exploited.

Benefits of the E-7 Visa
● Flexible Employment: The E-7 visa allows foreign workers to change jobs within their field of expertise, providing more flexibility compared to other visa types.
● Potential for Permanent Residency: After meeting certain requirements, such as a minimum period of stay and income level, E-7 visa holders may be eligible to apply for permanent residency in Korea.
● Family Considerations: E-7 visa holders can bring their immediate family members (spouse and children) to Korea, who can also be granted appropriate visas.

Challenges and Considerations
● Strict Eligibility Criteria: The eligibility criteria for the E-7 visa are quite stringent, and applicants must carefully ensure that they meet all the requirements.
● Employer Sponsorship: Securing a job offer and employer sponsorship is a crucial step in the E-7 visa application process, as the employer must demonstrate the necessity for hiring a foreign worker.
● Visa Renewal and Extensions: E-7 visas are typically granted for an initial period of up to 2 years, and subsequent renewals or extensions require careful planning and documentation.
● Additional Consideration: Startup Ecosystem

2024.05.14

Asia Plat

Vietnamese Companies Seek Talent to Drive Business Growth in 2024

In 2023, Vietnam's labor demand was subdued due to challenging economic conditions. The global economic downturn led to a decline in foreign direct investments into Vietnam. Additionally, there was a slowdown in consumer growth and a significant drop in manufacturing exports, which also hampered hiring activities. The technology and digital sectors continued to feel the effects of widespread layoffs. According to Phuc Pham, Country Manager at Robert Walters Vietnam, these factors reduced hiring demand across all industries and functions.

2024.05.19

Asia Plat

Diversity and Inclusion Shape Singapore’s Labour Market in 2023

In 2023, workplaces in Singapore witnessed a significant shift towards greater diversity and inclusion, reflecting a broader acceptance of individuals from various backgrounds. Monty Sujanani, Country Manager at Robert Walters Singapore, highlights this transformation, emphasizing the embrace of geographical diversity alongside cultural diversity.

2024.05.18

Asia Plat

Hiring in Thailand: Guide and Trends in 2024

The competition for top-tier talent in Thailand's job market is intensifying, driven by economic uncertainties and a persistent talent shortage. Punyanuch Sirisawadwattana, Country Manager of Robert Walters Thailand, sheds light on the evolving landscape and offers insights into the hiring trends and strategies prevalent in 2024.

2024.05.17

Asia Plat

Increased Demand for Southeast Asian Startup Talent from Hong Kong and Mainland China

Recently, the Southeast Asia Startup Talent Report 2024 was unveiled, providing fresh insights into the impact of Artificial Intelligence (AI) on recruitment, team formation, and the overall talent landscape in Southeast Asia.

Jointly released by Glints, the premier talent platform and solution in Southeast Asia, and Monk’s Hill Ventures, the report delves into hiring trends, salary data, and equity information for startup talent. It draws from over 10,000 data points, including insights from 183 C-suite executives and founders, alongside interviews conducted across key startup hubs such as Singapore, Indonesia, Vietnam, and Taiwan, China.

While 2023 witnessed divergent salary trends in Southeast Asia's tech sector—junior engineering roles experiencing a 6% decline, revenue-generating positions like business development and sales saw increases of up to 20%.

This trend can be attributed to startups prioritizing profitability and implementing cost-saving measures. However, despite global layoffs and cost-cutting measures, demand for Southeast Asian talent remains robust. Glints observed a fourfold increase in cross-border job postings from Hong Kong and mainland China to Southeast Asia in the first half of 2023 compared to the same period in 2022.

●Hong Kong Companies Target SEA Tech Talent for Skill Sets and Cost Savings: Hong Kong firms are attracted to Southeast Asian talent due to salary differentials, with roles in Taiwan offering 30-40% lower costs compared to Hong Kong for mid-level positions such as full-stack developers, DevOps engineers, and data scientists. Markets like Vietnam and Malaysia offer even lower costs for similar roles, enabling employers to save costs while acquiring quality tech talent in a competitive market.

● Mainland China Companies Prioritize Sales, Business Development, and Marketing/PR in Southeast Asia: A study by Bailian.AI, surveying 366 mainland China-based companies, aligns with these observations. The top reasons for hiring cross-border talent in Southeast Asia include expansion into the region or using Singapore as a global base, focusing on local business development talent for localization and market understanding. This underscores the importance of local knowledge for successful sales, marketing, and PR campaigns.

2024.05.14

Asia Plat