Overview of F-2-99 Visa Extension
The F-2-99 visa is one of the options available for individuals looking to reside long-term in South Korea. It can be renewed if certain criteria are met. In this article, we will delve into the requirements for extending the F-2-99 visa.
Categories of Changes and Extensions
This discussion primarily targets individuals who have transitioned from an E9 visa to an F-2-6 visa (for applications submitted before September 30, 2019), as well as those holding an E7-4 visa who have switched to the F-2-99 visa. We will comprehensively review the income, asset, and employment requirements for these two categories.
Income Requirements
When extending the F-2-99 visa, the income criteria can generally be divided into two key categories.
The first category applies to individuals holding the F-2-99 visa. In this scenario, the applicant must demonstrate an income that is at least 12 times the monthly minimum wage from the previous year. Based on calculations for 2023, with the monthly minimum wage set at 9,620 KRW, an annual income of at least 11,544,000 KRW is required.
On the other hand, if a family holds the F-2-99 visa, the Gross National Income (GNI) standard applies. As of 2022, a minimum annual income of 42,500,000 KRW is necessary.
Asset Requirements
When it comes to asset requirements, these do not apply during the extension process. While a minimum asset of 15 million KRW was required when switching to the F-2-99 visa, the focus for extensions is solely on fulfilling the income criteria.
Employment Requirements
Regarding employment, holders of the F-2-99 visa must continue working in the same industry as they were in under their previous visa. For example, if someone held an E7-4 visa and worked in the manufacturing sector, they must remain employed in this sector when extending to the F-2-99 visa. Applicants are required to submit proof of employment, such as a certificate of employment and a labor contract. If a person has switched to a different industry, they will not be eligible for an extension.
Social Integration Program Requirements
For those who have transitioned to the F-2-99 visa, a certificate of completion for Level 4 of the Social Integration Program may be necessary. Particularly for individuals switching from an F-26 visa to an F-2-99 visa, the first attempt for an extension allows for a one-year renewal. However, for a second extension, completion of Level 4 of the Social Integration Program is mandatory.
For further information on extending the F-2-99 visa, click here.