Korea Investment Immigration: All Tiers Explained (Tourism Real Estate, Public Fund & More)

Korea's investment immigration system has two core investment tracks, plus a separate business-investor route:

Track 1: Tourism and Resort Real Estate (관광·휴양시설 투자이민) → F-5-17

• Invest in designated tourism or resort facility real estate (condominiums, resort hotels, leisure complexes)
• Minimum investment: designated threshold per facility (specific amounts vary by facility; check the Korea Immigration Service for the current list of designated facilities and their thresholds — typically KRW 500 million–1.5 billion range)
• Status: C-3-1 (short-stay multiple-entry) for visits without alien registration → F-2 for residence → F-5-17 for permanent residency ("관광휴양시설 투자거주자")

Track 2: Public Interest Investment Fund (공익사업 투자이민 펀드) → F-5-21

• Invest in a Ministry of Justice-approved public interest investment fund (공익투자 전담은행 관리 펀드)
• Minimum investment: KRW 1.5 billion for the standard tier (일반투자이민), or KRW 3 billion for the high-value tier (고액투자이민 — principal-guarantee, zero-interest type only)
• Status: C-3-1 for visits → F-2 for residence → F-5-21 for permanent residency ("공익사업 일반투자자")
• Linked investment: Real estate (Track 1) and a public-interest deposit (minimum KRW 5 million via the Korea Development Bank) can be combined to jointly reach the public-interest threshold — this still leads to F-5-21, not a separate code.

Retiree track → F-5-23: A dedicated pathway for retirement investment immigrants (은퇴투자이민자) — requires the same 5-year public interest fund investment as Track 2, plus KRW 300 million or more in verifiable domestic assets. This is distinct from the general Track 2 pathway (F-5-21).

Dependent status → F-5-22: The spouse or unmarried minor child of an F-5-21 or F-5-23 investor qualifies for their own F-5-22 permanent residency, tied to the principal investor's status.

Separate business-investor route (F-5-5): Foreign nationals who have invested USD 500,000 or more in a Korean business and employ 5 or more Korean nationals qualify for F-5-5 — a distinct code from the two investment-immigration tracks above, with its own application process (not covered in depth on this page).

Eligible facilities: Only facilities designated by the Ministry of Justice qualify. The list includes select resort condominiums, hotel units, and leisure complex units in designated tourism zones. Not all resort property in Korea qualifies — the facility must be on the official approved list.

Key eligibility requirements:

• Investment amount must be at or above the facility's designated minimum threshold
• Investment must be from the investor's own overseas capital (not Korean-source funds)
• The invested property cannot be sold, leased, mortgaged, or seized, and cannot be used for profit-making purposes (rental income) during the investment period
• No serious criminal convictions (Korean law): no imprisonment sentence within 5 years, no suspended sentence within 5 years, no fine of KRW 3 million or more within 3 years
• No immigration violations within 3 years, no forced-deportation departure within 7 years, no exit-order departure within 5 years, no entry ban active

Application venue: The immigration office with jurisdiction over the investment facility's location. If investing in multiple facilities, apply at the office covering the location of the largest investment.

Initial C-3-1 status: Grants a 1-year validity, 30-day stay per visit multiple-entry visa. This allows the investor and immediate family (spouse, unmarried children, parents, spouse's parents) to visit Korea freely without alien registration.

Path to F-2 (residence): When the investor wishes to actually reside in Korea, they apply for F-2 (점수제 기반 거주 또는 투자이민 거주) and register as an alien. F-2 under investment immigration is separate from the points-based F-2-7.

Path to F-5-17 (permanent residency): After maintaining the investment for the required period with continuous qualifying residence, apply for F-5-17 ("관광휴양시설 투자거주자").

Investment tiers (apply to both fund types):

• 일반투자이민 (standard tier): KRW 1.5 billion (₩15억) or more
• 고액투자이민 (high-value tier): KRW 3 billion (₩30억) or more — principal-guarantee, zero-interest type only

Fund types:

• Principal-guarantee, zero-interest (원금보장·무이자형): Funds are deposited with a Korea Development Bank-managed public fund, which the bank re-lends to SMEs at preferential rates. No return on investment — the money is used for public benefit projects.
• Yield-type (손익발생형): Investment in a regional development project designated by the Minister of Justice in consultation with relevant ministries (e.g. a tourism-centered enterprise city under the Corporate City Development Special Act). These are managed by specific development project sponsors and may generate returns.

Linked investment with Track 1: If your combined investment across the tourism/resort real estate track and a public-interest deposit reaches the public-interest threshold, you can qualify via this linked route — the public-interest-side deposit in this linked scenario must be at least KRW 5 million with the Korea Development Bank.

Application venue:

• Principal-guarantee/zero-interest: Apply at the Seoul Immigration Office (Sejongno branch) or the Jeju Immigration Office (for Jeju residents)
• Yield-type: Apply at the immigration office having jurisdiction over the development project operator's registration location

Retirement investment immigration: The public interest fund track explicitly accommodates 'retirement investment immigrants' (은퇴투자이민자) — older investors who wish to retire in Korea. This leads to F-5-23 specifically (not the general F-5-21), and requires an additional KRW 300 million or more in verifiable domestic assets on top of the same fund investment tiers above.

Family coverage: The investor's immediate family (parents, spouse, children, spouse's parents) can be listed on the same C-3-1 initial status and later accompanying F-2 visa. The investor's spouse or unmarried child can separately qualify for their own F-5-22 permanent residency once the principal investor holds F-5-21 or F-5-23.

Stage 1 — Pre-investment: obtain C-3-1 visit status

1. Complete the investment (transfer funds to the designated facility or fund)
2. Obtain proof of investment from the facility/fund (investment confirmation, account transfer records, etc.)
3. Apply to the relevant Korean immigration office for a Visa Issuance Confirmation (사증발급인정서)
4. The CVI is issued as: C-3 single-entry (30 days stay, 1-year validity)
5. Investor and family can visit Korea freely under C-3-1

Stage 2 — Residency: upgrade to F-2 When the investor decides to reside in Korea:

1. Apply for F-2 status change at immigration with: investment documentation, proof of address, financial statements
2. Register as an alien and obtain ARC
3. Maintain investment throughout residence period

Stage 3 — Permanent residency: apply for F-5 After meeting the continuous residence and investment maintenance requirements:

1. Apply for F-5-17 (real estate track), F-5-21 (public fund track), or F-5-23 (retiree track, requires additional KRW 300M+ domestic assets)
2. Documents: application form, investment documentation (updated), ARC, proof of continuous residence, no-crime certificate
3. F-5 is granted permanently once approved

Investment immigration applications are rejected if the investor:

• Has a Korean imprisonment sentence (or suspended sentence) where less than 5 years have passed since the sentence was completed/waived or the judgment was finalized
• Has a Korean criminal fine of KRW 3 million or more, where less than 3 years have passed since payment
• Received a forced-deportation order from Korea and it has been less than 7 years since departure
• Received an exit order (not forced deportation) and it has been less than 5 years since departure
• Has had immigration-law violations resulting in a fine (범칙금) within the past 3 years that would otherwise restrict stay permission
• Has submitted fraudulent documents within the past 3 years
• Is subject to an entry ban
• Has a disqualifying foreign criminal record from their home/residence country (specified violent, fraud, or drug-related crimes; or any offense carrying imprisonment where less than 5 years have passed since completion)
• Allowed the invested property to be sold, leased, mortgaged, or seized during the investment period
• Used the invested property for profit-making (rental income) contrary to program rules

The specific minimum investment thresholds and the list of designated qualifying facilities and funds are updated periodically by the Ministry of Justice. The thresholds and approved facility list in effect at your time of application govern your eligibility — not historical figures.

Always verify:

1. The current designated tourism/resort facility list and their individual thresholds (available from the Korea Immigration Service or on HiKorea)
2. The currently approved public interest fund options and their managing banks
3. The current minimum investment amounts in both KRW and USD equivalent

For the most authoritative current information, contact the Korea Immigration Service's investment immigration desk directly.