The government will introduce a new, simplified system for granting highly skilled professional visas to foreign workers next Friday to attract overseas talent, the Immigration Services Agency said Friday.

Under the new measure, the government will grant the visa to foreign applicants and introduce preferential treatment for those who meet certain conditions, such as having an annual income of ¥20 million ($151,000) and a master's degree.

Under the government's current points-based system, points are allocated according to categories that include academic and employment backgrounds, as well as annual income. But the move has been seen as overly complicated as the global race to acquire skilled workers heats up.