Busan opens Global Start-up Immigration Center to support foreign entrepreneurs

Busan has opened a Global Start-up Immigration Center to provide startup-related education and mentoring, as well as visa support, to foreign entrepreneurs, according to the center on Monday.

Designated by the Ministry of Justice and run by the Busan Startup Investment Agency, the city’s first Global Start-up Immigration Center serves as a regional hub supporting the entrepreneurship and long-term settlement of international residents.

The center also operates the Overall Assistance for Start-up Immigration System (Oasis), which helps aspiring foreign nationals establish businesses in Korea by offering support for company incubation, incorporation and commercialization. Participants who complete Oasis programs can receive the points and recommendation letters required to obtain a D-8-4 technology startup visa.

The Global Start-up Immigration Centers are part of the government’s regional development initiative to expand the startup industry nationwide.

As of July, there are four centers in Seoul across Jongno District, Gangnam District and Seongbuk District. Outside the capital, they can be found in Jeonju, North Jeolla, and Cheongju, North Chungcheong.

Busan plans to link the center’s operations to the city’s global startup network and partnerships with overseas investors and startup support organizations, according to the center.

“Our goal is to help Busan grow into a global startup hub by supporting the stable settlement of foreign entrepreneurs and fostering globally competitive companies,” Seo Jong-gun, the president of the Busan Startup Investment Agency, said. “We will also continue building a comprehensive startup ecosystem that integrates entrepreneurship, investment and settlement support.”

BY YOON SEUNG-JIN [[email protected]]