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South Korean ambassador talks EB-5
The South Korean ambassador to America recently made a visit to East Lansing to make a speech at Michigan State University, and spoke briefly about the EB-5 visa program.
Han Duk-soo focused largely on the proposed U.S.-South Korea free trade agreement, saying that it would help create jobs for Americans, reports the Lansing State Journal.
The news provider was able to catch up with the ambassador, asking him what the EB-5 visa program, and Lansing’s EB-5 regional center, in particular, meant for South Korean investors.
“This green card [program] would be very beneficial for Korean businesses to do their business in a more stable and sustainable way,” Duk-soo said.
The EB-5 visa program allows foreign nationals to earn U.S. green cards if they invest $1 million (or in some areas, $500,000) in an American business and that investment results in the creation or preservation of 10 jobs. EB-5 regional centers help to direct and manage these foreign investments.
According to the U.S. Citizenship and Immigration Service, 903 South Koreans earned their U.S. green card through the EB-5 visa program in fiscal 2009, representing the second most EB-5 investors, behind only China.