Overseas Koreans Agency Commissioner Lee Sang-deok speaks during a press conference at the agency headquarters in Incheon, Tuesday. Courtesy of Overseas Koreans Agency

The Overseas Koreans Agency (OKA) said its goals for this year include supporting the economic activities of the global Korean diaspora and helping returning diaspora members in their resettlement in Korea.

OKA data suggests about 860,000 overseas Koreans, including Koryoin, or ethnic Koreans from the former Soviet Union, are estimated to have returned to Korea.

The agency added there weren't enough measures to help their settlement in Korea, although they had already been naturalized in Korea.

“It should be changed,” OKA Commissioner Lee Sang-deok said during a press conference at the agency headquarters in Incheon on Tuesday.

“The OKA plans to provide services to assist their smooth settlement as part of the agency's key agenda for this year.”

To strengthen overseas Koreans' cultural connections to Korea, the agency said it would increase its operating budget for Hangeul schools around the world by 32 percent to 18.6 billion won ($12.8 million) this year.

The agency also plans to invite an increased number of young overseas Koreans aged between 12 and 24 this year to provide them with opportunities to experience the country's cultural and historical content under a partnership with local governments.

It hosted eight tours to invite 2,100 youngsters last year. The OKA said it plans to host more than 10 tours and invite 2,600 this year.

An agency official said their return could help ease Korea's shrinking labor supply as well as ever-worsening fertility rate.

“The country's fertility rate hit 0.72 in 2023,” the official said.

“An increasing number of overseas Koreans are interested in coming back to Korea. Many of them also consider investing in (Korea). Their contribution could help ease Korea's social problems.”

Lee also said the agency will closely monitor Korean communities in the United States since President Donald Trump heralded hardline anti-immigrant policies at the start of his term.

“Many communities have expressed their concerns over uncertainties,” Lee said.

“We haven't observed any changes (in the U.S. immigration policy) yet, but the OKA will closely communicate with Korean communities there to counter every eventuality.”

Founded in 2023, the OKA is a Ministry of Foreign Affairs-affiliated government agency for Korean diaspora communities worldwide.

According to Ministry of Foreign Affairs data, the number of overseas Koreans worldwide reached 7.32 million as of 2021, consisting of 4.8 million foreign nationals and 2.5 million Korean nationals.