Company R sent 4 engineers to transfer technology to a domestic company.
Initially the company invested 50 million KRW in start up costs
Usually a company has to amount per person applying for a visa
In June 2006, the company was granted eight D8 visas in return for a promise to make an additional investment.
The visas of four of the engineers dispatched expired in the beginning of December.
And now that the domestic company has to borrow facility equipment on a long-term basis from England, they can no longer afford to introduce additional capital.
As a result, the Immigration office was reluctant to extend the engineers’ visas.
Increased Investment;
Company R received confirmation, after registered for and received confirmation of high-technology based production, filed a notification for an investment of USD 100billion
In July, they were granted certification for high technology and imported equipment from England.
Company R stated that since they had invested a great amount in goods in kind, that investment should be counted as an increase in investment. And, that the ministry of justice should allow for the issuance of a D8 visa.
However, since facilities equipment was on long-term loan from the England, there was no increase in capital.
As a result, that equipment was re-capitalized.
The government official dispatched from the Department of Justice stated:
As a condition of making an additional investment, a D8 visa would be granted
Thus, for all intents and purposes, an increase in investment did occur.
However, the visa must be extended before expiration of the original visa.
Taking into consideration the special circumstance facing Company R, the department of Justice decided to waive requirement under the following conditions:
1).If the dispatched employees have proof of employment
2) If there are current financial records or a contract with a major conglomerate
3) A letter of confirmation testifying to the amount invested is sufficient to justify issuance of a D-8 visa
4). A letter of guarantee from the lead project manager |
