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Foreigner-owned businesses facing shutdown due to visa rule change
Posted : 2021-04-20 15:49
By Jon Dunbar
Many foreign business owners are facing an abrupt end to their entrepreneurial careers, as sudden changes in how immigration offices are handling the F-2-7 visa are causing chaos.
Foreign business owners have been getting turned away at immigration offices when going in to renew their F-2-7 visas. Some have reported being told that they never should have been allowed to register their businesses in the first place, and have even been threatened retroactively with fines for activities that are supposedly now illegal.
However, there was no announcement of any such changes, nor has there been any grace period to allow long-term foreign residents the time to find alternative solutions to save their businesses, according to Jang Man-ik, a licensed immigration specialist who runs the visa consulting agency, Visa in Korea.
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