Industry minister asks US to issue E4 visas for highly-skilled Koreans

Gov't vows efforts to increase FDI

By Park Jae-hyuk, The Korea Times - The Korean government has reiterated the need for issuing specialized E4 visas for Korean professionals in the United States, following multiple failed attempts to pass the Partner with Korea Act in the U.S. Congress.

Trade, Industry and Energy Minister Ahn Duk-geun said Thursday that employment visa challenges have made it difficult for major Korean conglomerates to dispatch workers to their U.S. offices and to increase investments in the world’s largest economy.

“Whenever I explain this problem to U.S. lawmakers coming to Korea, they have promised to solve it,” he said during a luncheon hosted by the American Chamber of Commerce in Korea (AMCHAM).

“The passage of the Partner with Korea Act will help the industrial ecosystem and bilateral investments between Korea and the U.S.”

Over the past decade, several bills have been proposed in the U.S. Congress to issue specialized employment visas for highly-skilled Korean nationals, aiming to provide them with similar opportunities as professionals from Australia, Singapore, and Chile, who are eligible for specialized employment visas in the U.S.

The latest proposal for a bill to issue E4 visas for 15,000 Korean professionals annually is on the verge of expiring once again due to the upcoming dissolution of the House of Representatives next January.

Ahn therefore requested AMCHAM's assistance in addressing this issue. “We do not intend to disrupt U.S. immigration policies,” he said.

During the luncheon, the minister also outlined the government’s policies to attract increased foreign direct investment (FDI) from the U.S. and other countries. He expressed gratitude for AMCHAM’s efforts in helping foreign companies establish their regional headquarters in Korea.

“We drew up a budget to support R&D by foreign-invested companies,” he said.

In light of escalating U.S.-China tensions and the geopolitical risks arising from military conflicts between Russia and Ukraine, as well as tensions in the Middle East, he added that Korea offers global enterprises a valuable opportunity to diversify their export markets, thanks to its extensive network of trade partnerships.

As the minister responsible for energy policies, Ahn introduced the carbon-free energy initiative, which includes the use of nuclear power. He said this approach is a more suitable option for Korea’s climate.

“We will announce specific elements of the initiative next week during the World Climate Industry Expo in Busan,” he said.

“This global initiative will serve as a stepping stone for developing countries to transition to carbon neutrality.”

Ahn also said Korea is open to including provisions on digital trade in the Korea-U.S. Free Trade Agreement, which celebrated its 12th anniversary this year.

AMCHAM Chairman James Kim emphasized the strengthening of Korea-U.S. economic relations.

“The U.S. is now on the verge of surpassing China as Korea’s number one export destination,” he said.

“Just last year, the U.S. was the leading investment destination for Korean companies, accounting for more than 43 percent of total outbound Korean FDI. Similarly, the U.S. was the largest source of FDI in the Korean economy, contributing more than 32 percent.”

The chairman recognized Ahn for his leadership, saying that his strategic vision for the Korea-U.S. economic collaboration has significantly contributed to the strong bilateral relationship.

Source: https://www.koreatimes.co.kr/www/tech/2024/08/419_381506.html?na 

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