Professor Shin Young-chul received hundreds of thousands of dollars in incentives and permanent residency from Guangdong Province and Shenzhen municipal governments. He was classified as high-level foreign talent under Shenzhen’s Peacock Plan.
Professor Shin Young-chul moved to Shenzhen in August after earning his Ph.D. from Seoul National University and conducting research at Harvard Medical School. U.S. visa issues prompted his relocation to the Southern University of Science and Technology.
Classified as a Class C talent under Shenzhen’s Peacock Plan, he received a 50 million won bonus and 240 million won annually after taxes. Additional perks include priority airport access, rental housing subsidies, education support for his children, and an effective 15 percent individual income tax cap.
Shin said he often wonders whether he is entitled to such privileges. He noted superior research equipment access compared with Korea and recently chose to stay in Shenzhen after his three-year contract ended.