🇰🇷 What is GNI & Why is it important?

If you’re living in Korea or planning to stay long-term, you’ve probably heard people talk about GNI when discussing visa rules. But what exactly is GNI, and why does it matter for foreigners? ✍🏻 What Is GNI? GNI (Gross National Income) is the average income per person in a country. 💭 Think of it as: - The total income made by people and businesses in Korea divided by the number of people living in Korea - It’s similar to GDP per capita, but it also includes income Koreans earn abroad. ❣️ What Is the Current GNI Baseline? The 2024 GNI per capita is ₩49,955,000. (Approx. US$36,624.) 🧭 Why Does GNI Matter for Visas in Korea? Some visa extension rules require that you make at least a certain percentage of the national GNI, proving you can financially support yourself. 📩 Example: - Some visas require income above GNI per capita - Others require 70% or 80% of GNI Immigration uses this to judge if you have a “stable livelihood.” 🔗 See your visa's information here 👉🏻 https://www.klik.co.kr/ko/visa-contents 📮 Why Does Korea Use GNI for Immigration? Because GNI represents Korea’s real economic standard of living. Immigration uses it to: - Set fair income levels for everyone - Keep rules consistent even when the economy changes - Judge whether a household can live comfortably in Korea It’s a simple national benchmark that changes yearly.