The justice ministry will improve the visa program for international students in a bid to attract foreign talent in the hope that they settle in South Korea.

According to the ministry on Friday, starting July 3, the standard currency for the assessment of visa applicant's financial capacity will change from the U.S. dollar to the Korean Won, while the threshold will be lowered.

The financial requirement for students seeking to enroll in a university program will drop from 20-thousand dollars, or around 26 million won, to 20 million won while the requirement for those enrolling in language courses will go from ten-thousand dollars, or 13 million won, to ten million won.

Korean language proficiency verification will be expanded to include the completion of the ministry's social integration program and language standards used by the King Sejong Institute.

Foreign laborers with E-9 and E-10 visas will also be permitted to study in the country as a part of efforts to strengthen expertise in their respective fields.