As we step into the new year, South Korea is unveiling an exciting opportunity for remote workers and avid travelers with its latest initiative – the Workation Visa. Announced by the Ministry of Justice, this innovative visa scheme is set to kick off on January 1, 2024, aiming to attract foreign professionals to live, work, and explore the beauty of South Korea for an extended period.
The concept of “workation” gained momentum during the height of the COVID-19 pandemic when remote work became the norm. Combining work and vacation, this trend allows individuals to maintain their work commitments while embarking on long-term journeys. South Korea’s Workation visa aligns perfectly with this evolving work culture, offering an opportunity for a unique blend of productivity and exploration.
Unlike the previous limitations of tourist visas, the Workation visa allows foreigners to stay in South Korea for up to one year, with the option to extend for another year. This extended duration enables individuals to immerse themselves fully in the rich cultural tapestry of South Korea. Additionally, eligible foreigners can extend the visa to include their families, with the exception of children aged 18 or older and the children of accompanying family members.
To qualify for the Workation visa, applicants must meet specific requirements. They must be affiliated with foreign companies, having worked in the same industry for over a year. For-profit activities with Korean companies require a separate work visa. Moreover, the applicant’s income must be more than twice South Korea’s gross national income per capita from the previous year, approximately KRW 42.48 million (U.S. $33,000) or an income of around P1.8 million per year. This translates to a monthly income of about P138,500 for Filipinos, providing an insight into the financial eligibility criteria.
Additional requirements include purchasing personal medical insurance and home evacuation coverage exceeding KRW 100 million or P4.2 million.
While these requirements may seem stringent, it’s important to note that these policies are still under review and testing. As of now, there is no official information from the South Korean Embassy in the Philippines regarding the application process for Filipino nationals.
Stay tuned for updates on the Workation visa through the official Embassy of South Korea Philippines’ Facebook page.