D8 Visa D-8-4(S) Startup Korea Special Visa Small and Medium Venture Business Department (SMVBD) Recommendation Letter : Application Method, Eligibility Requirements, Issuance Procedure, and Required

Startup Korea Special Visa D-8-4(S)

– This is a new type of technology startup visa that requires the issuance of a recommendation letter after evaluating the business viability and innovation of the startup. It was introduced to actively attract promising global entrepreneurial talent and overseas startups. ※ The existing Technology Startup Visa (D-8-4) remains unchanged, with the D-8-4(S) added as a new category.

D-8-4(S) Features and Issuance Procedure

1. Features of D-8-4(S)

① Issuance of recommendation letter after evaluating the startup’s business viability and innovation

– Quantitative requirements such as academic background are minimized, and a committee of private experts evaluates the business viability and innovation of the startup before the Small and Medium Venture Business Department issues the recommendation letter.

※ Academic qualifications and OASIS scores of the applicant (representative) are not required.

② Issuance allowed even before domestic corporation establishment

– Visa application and issuance are possible on the condition that the corporation will be established within six months, even if the domestic corporation has not yet been established.

③ Application and issuance possible overseas (visa issuance)

– Special visa recommendation candidates can apply for and receive visas not only while residing in Korea but also overseas through Korean diplomatic missions.

2. D-8-4(S) Issuance Procedure

① Recommendation Application : Submit the recommendation application form, business plan, and required documents.

② Evaluation : Review eligibility criteria and assess the startup’s business viability and innovation to select outstanding companies as recommendation candidates.

③ Issuance of Recommendation Letter : Notify the selected candidates of their recommendation status and issue the recommendation letters.

④ Visa Application : The recommended candidate visits the relevant Immigration Office or the Korean Embassy/Consulate in their country to apply, attaching the recommendation letter from the Small and Medium Venture Business Department.

⑤ Visa Issuance : After visa review, the Startup Korea Special Visa is issued.

D-8-4(S) Recommendation Letter Eligibility and Exclusion Criteria

1. Eligibility (All of the following criteria must be met)

① Applicant must be the representative of a (preliminary) startup company and must not hold Korean nationality.

– In principle, only one representative of the (preliminary) startup company may apply.

– In the case of co-representatives, up to three can apply if they meet one of the following criteria, and each co-representative must submit a separate recommendation application.

1.A corporate business that has operated the same business as described in the submitted business plan for over one year, with co-representatives listed on the corporate registration certificate.

2.A company selected as a support target upon recommendation by the Small and Medium Venture Business Department’s K-Scouter, submitting a document verifying the co-representative status from the K-Scouter.

② The (preliminary) startup must fall under the support target of the “Small and Medium Enterprise Startup Support Act.”

– The company must have been established within 7 years as of the application date (10 years for new industry sectors).

– Must be a new industry startup or technology startup (e.g., general trading, distribution, food service industries are excluded).

 2. Exclusion Criteria

① Those engaged in or intending to engage in industries excluded under Article 4 of the Enforcement Decree of the “Small and Medium Enterprise Startup Support Act.”

※ Excluded industries include

– General entertainment bars

– Dance entertainment bars

– Management and operation of other gambling facilities

– Other industries equivalent to items 1-3 as prescribed by the Small and Medium Venture Business Department regulations.

② Cases of default or tax delinquency:

1. Individuals (or companies) under regulation for default by financial institutions, etc.

2. Individuals (or companies) with unpaid national or local taxes.

3. Individuals (or companies) listed on the Ministry of Employment and Labor’s publicly disclosed list of wage arrears employers according to the Labor Standards Act.

4. Individuals (or companies) deemed by the Minister of Small and Medium Venture Business to have justifiable reasons to restrict participation.

D-8-4(S) Recommendation Letter Application and Acceptance

① Application Period: December 3, 2024 (Tuesday) – Open for continuous submissions (evaluations conducted monthly after each submission period).

② Application Method: Access the GSC (Global Startup Center) website and apply online.

Documents Required for Recommendation Letter Application

① Recommendation Application Form

② Business Plan

③ Copy of Passport or Alien Registration Card

④ Copy of Corporate Registration Certificate or Business Registration Certificate

⑤ (If applicable) Document verifying co-representative status from K-Scouter

⑥ Consent Form for the Provision, Use, and Collection of Personal Information

※ The above documents are for the special visa recommendation review only and are not the documents required for visa application.

Evaluation Method and Criteria for D-8-4(S) Recommendation Letter

1. Evaluation Method

① Eligibility Review

– Check whether the applicant meets the eligibility criteria, review for duplication in the business plan, and verify the authenticity of submitted materials.

– If the applicant does not meet eligibility or falls under exclusion criteria, or if there are false statements, imitation, plagiarism, or unauthorized use in the application or business plan, or if mandatory information or supporting documents are missing preventing verification of eligibility, the application may be excluded from review.

② Presentation Evaluation

– The applicant attends the review committee either on-site or via online video conference to directly present the business viability, innovation, and growth potential of the startup item.

– Presentation time: 10 minutes / Q&A: 5 minutes

– The presentation evaluation schedule will be announced separately.

③ Final Selection

– The review committee comprehensively reviews the business plan and presentation evaluation results to finalize the candidates recommended for the special visa.

2. Evaluation Criteria

– Comprehensive evaluation of the startup’s business viability and innovation, growth potential, founding team capabilities, potential to enter the Korean market, and contribution to the domestic economy.

Evaluation Criteria	Evaluation Contents	Scoring
1. Problem Recognition	– Background and necessity of the startup item – Analysis of the current status of the target market (customers) for the startup item	10
2. Feasibility and Differentiation	– Development status of the startup item (level of readiness) – Plans for realization and advancement of the startup item – Differentiation and competitiveness of the startup item	20
3. Growth Strategy	– Operational performance of the startup company (sales, investment, customer acquisition scale, etc.) – Growth strategy of the startup item – Fundraising plan and implementation schedule	30
4. Team Composition	– Composition of the startup team and existing capabilities – Team development and sustainability	20
5. Potential for Entry into the Korean Market	– Analysis of the Korean market and entry strategy – Intentions for Korean market entry, including corporation establishment and headquarter relocation – Contribution to the Korean economy	20

Other Important Notes

1. Important Notes When Applying

– The application form must be submitted directly by the representative of the (preliminary) startup company, and if the submitter does not match the person listed on the application form, business plan, and other submitted documents, the application may be excluded from evaluation.

– Applicants may be requested to submit additional documents or supplements necessary for eligibility verification and review, and must cooperate accordingly.

2. Important Notes During the Review Process

– The applicant must personally participate in the presentation evaluation (all co-representatives must participate), and failure to attend will result in exclusion from the review.

– To ensure fairness, the entire presentation evaluation process may be recorded or videotaped.

3. Important Notes After Recommendation

– Being selected as a candidate for the special visa recommendation does not automatically guarantee issuance of the Startup Korea Special Visa D-8-4(S). After receiving the recommendation letter, domestic residents must visit the relevant Immigration Office or Foreigners’ Service Office, and overseas residents must visit the Korean Embassy or Consulate in their country to submit the required documents and the special visa recommendation letter to apply for the visa.※ Even after submitting the recommendation letter, visa issuance may be denied based on the results of the visa review.

– The validity period of the special visa recommendation letter is six months from the date of issuance, and the visa issuance must be applied for within the validity period.

– Even after receiving the special visa recommendation, if the applicant is found to be ineligible, subject to exclusion, or found to have copied, plagiarized, or misappropriated another person’s business plan, the recommendation and visa issuance may be canceled.