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

Korea's investment immigration system has two core pathways:

Track 1: Tourism and Resort Real Estate (관광·휴양시설 투자이민)

• 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-5-21 for permanent residency

Track 2: Public Interest Investment Fund (공익사업 투자이민 펀드)

• Invest in a Ministry of Justice-approved public interest investment fund (공익투자 전담은행 관리 펀드)
• Minimum investment: KRW 500 million (principal-guarantee, zero-interest type) or equivalent in the yield-type fund
• Status: C-3-1 for visits → F-2 for residence → F-5-22 for permanent residency

Combined track (F-5-23): Investors who have split investments across both tracks can qualify for F-5-23 permanent residency when the combined investment meets the qualifying threshold.

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 suspension of execution within 3 years, no fine of KRW 5 million or more within 1 year
• No immigration violations within 3 years, no deportation 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 (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-5-21 (permanent residency): After maintaining the investment for the required period with continuous qualifying residence, apply for F-5-21.

Fund types:

• Principal-guarantee, zero-interest (원금보장·무이자형): Invest KRW 500 million (or USD equivalent) into the fund. The principal is held in a government-supervised dedicated bank. No return on investment — the money is used for public benefit projects.
• Yield-type (손익발생형): Invest in a yield-bearing public interest fund. These are managed by specific development project sponsors and may generate returns. The minimum investment threshold for yield-type funds may differ from the zero-interest type.

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. The same KRW 500 million fund investment qualifies for the retirement track, which leads to F-5-22 permanent residency.

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 visa.

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: 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 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-5-21 (real estate track), F-5-22 (public fund track), or F-5-23 (combined)
2. Documents: application form, investment documentation (updated), ARC, proof of continuous residence, no-crime certificate
3. is granted permanently once approved

Investment immigration applications are rejected if the investor:

• Has a Korean imprisonment sentence within the past 5 years (or suspended sentence within 3 years)
• Has a Korean criminal fine of KRW 5 million or more within 1 year
• Received a deportation order from Korea and it has been less than 5 years since departure
• Received an exit order and it has been less than 1 year
• Has had immigration violations resulting in a restriction on stay within the past 3 years
• Is subject to an entry ban
• Has submitted fraudulent documents
• 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.