|The Ministry of Justice has announced it will start issuing permanent residency for F-5 visa holders. Yonhap|
By Jung Min-ho
The government will replace alien registration certificates with permanent residency for F-5 visa holders, starting Sept. 21.
The Ministry of Justice said Wednesday that people who fit the requirements of staying here permanently can receive permanent residency, which must be renewed every 10 years.
The policy will affect some 130,000 people, about 6 percent of all non-Korean residents here.
F-5 visa holders can switch their certificates to permanent residency immediately; those who want to postpone it can do so for 12 years from the time they obtained their F-5 visas.
Those who violate the rule could face a maximum fine of 2 million won ($1,800).
The ministry said it will notify people the policy affects via mail.