Trump's $1 Million 'Gold Card' Issued to Only One Despite Claims of $1.9 Billion in Sales

It has been revealed that, as of four months after the application process began in December last year, only one person has been approved for the "Gold Card" visa program introduced by U.S. President Donald Trump. The "Gold Card" is a program that grants foreigners a visa allowing them to legally reside or work in the United States if they pay at least 1 million dollars (approximately 1.4 billion won).

According to Yonhap News, U.S. Secretary of Commerce Howard Lutnick stated during a hearing at the U.S. House of Representatives on the 23rd (local time) that "one Gold Card has been issued," in response to questions.

On September 19 last year, the "Trump Gold Card" was unveiled at the White House Oval Office in Washington. Photo by AP Yonhap News

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This contradicts Secretary Lutnick’s earlier claim that he had sold 1.3 billion dollars (approximately 1.926 trillion won) worth of Gold Cards just days after the program was launched in December last year.

However, Secretary Lutnick did not explain the reason for such a low number of issuances during this hearing. He only said, "Recently, one person was approved, and currently, hundreds are undergoing the process and waiting."

President Trump announced in February last year the abolition of the existing investment immigration (EB-5) system and his plan to implement the Gold Card policy, which would grant permanent residency for 5 million dollars. Subsequently, President Trump posted a photo of the Trump Gold Card featuring his face on Truth Social and announced the launch of the card application website. He described the Gold Card as a "fast track to citizenship for anyone who qualifies."

To receive a Gold Card, an applicant must pay 1 million dollars. Once approved and after making the required contribution, applicants are typically able to obtain legal status within a few weeks as holders of either the EB-1 or EB-2 visa. In addition to the 1 million dollars, applicants must also pay a fee of 15,000 dollars (approximately 22.2 million won) due to the strict security screening process and other procedures.

Previously, President Trump established his presidential identity around the deportation of undocumented immigrants. At the same time, he has repeatedly expressed support for the immigration of foreign talent. Some have argued that the Gold Card program is designed to promote this kind of immigration, selectively accepting only wealthy immigrants.

Regarding where the revenue from the sale of Gold Cards will be used, Secretary Lutnick responded, "The administration will decide, and it will be used for the development of the United States."

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