The Chosun Ilbo reported that the United States, facing difficulties due to the global financial crisis, has relaxed restrictions on its immigration system to support the economy. Recently, with the depreciation of the US dollar against the South Korean won, enthusiasm among South Koreans for investment immigration to the United States has surged.
According to reports, since 1990, the United States has granted permanent residency to foreigners who invest over $1 million, and after 1993, it introduced a policy allowing permanent residency for investments of around $500,000. Two to three years ago, seminars on the US investment immigration (EB-5) program were held about once a month in South Korea, but it is said that they are now held more than once a week.
Statistics show that from 2006 to 2008, a total of 1,454 South Koreans obtained permanent residency in the United States through investment immigration, the highest among 67 countries and regions that invested in the United States during the same period. Despite the significant depreciation of the won due to the international financial crisis in 2009, South Korea still ranked second with 903 individuals, a 30% increase from 2008 (693 individuals). It is estimated that from 2007 to 2009, the total investment amount from foreigners obtaining permanent residency in the United States through investment immigration reached approximately $1.0125 billion, with industry insiders believing that the investment amount from South Koreans may exceed $400 million. This means that about 40% of the total investment immigration funds to the United States worldwide come from South Korea.
A housewife, Ms. Kim, who obtained permanent residency in the United States last July, said: “I chose investment immigration to the United States due to my children's education, but I still live in South Korea. I tell those around me that investment immigration is an easier and faster way to obtain permanent residency in the United States.” According to immigration agencies, two-thirds of those who invest in immigration from South Korea do not reside in the United States and only go there when necessary.
