Korean Job Discussion Forums

JohnTeacher · Joined: 10 Mar 2007 Location: Ansan-Si, South Korea

Hi,
New people are always arriving....and its important they know if or when they are being denied something they have a right to.
Under Korean law your employer MUST---no exceptions---deduct a percentage of your pay each month for the national pension payment, which HE/SHE MUST MATCH WON FOR WON!! It generally works out to about 100,000 won a month from you...and the same from your employer. The total for one year should range from 2,300,000 won and up, depending on just what you've been contributing.
When you're ready to leave the country, bring your plane ticket (or a photocopy), your bank info, passport and ARC to your nearest pension office and within 6-8 weeks---sometimes less...you'll receive this tidy lump sum. It's a nice extra parting bonus...you have your bonus for completing your contract, your last month's pay, and the pension money. It should total around 6-7 million won.
I came here some years back and my first employer didn't do this and she knew that the foreigners had no idea/knowledge about it. As there were at least 8 foreign teachers employed...she saved herself 800,000-900,000 won each month....and ripped off 8 teachers in the process (which I'm sure pleased her immensely).
Not everyone can get their money back...there are a few exceptions. First, check with other teachers you may know, or contact the national pension office. There's always someone there who speaks English fairly well.
Get what's coming to you!!! It looks better in your pocket than theirs!!

Bondrock · Joined: 08 Oct 2006 Location: ^_^

actually, private universities are exempt from national pension... if they have a private pension plan...

... companies with less than five employees are also exempt...

sorry John...

trippin4redemption · Joined: 11 Mar 2007

I feel stupid for asking this (so go easy on me), but what's an ARC?

wylies99 · Joined: 13 May 2006 Location: I'm one cool cat!

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JohnTeacher · Joined: 10 Mar 2007 Location: Ansan-Si, South Korea

Hi,
Yes...you're so right...I forgot about the 5 employee exemption. I've known of situations though where the employer(s) maintained that they employed fewer than they actually had to avoid paying. Intimidated employees kept quiet and the schools kept on not paying.
Thanks for correcting me on the oversight.
Old age-----forgetfulness.............................

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

Young FRANKenstein · Posted: Sat Mar 17, 2007 10:09 pm Post subject: Re: Pension payments

JohnTeacher · Joined: 10 Mar 2007 Location: Ansan-Si, South Korea

Hi,
True story....
I went to the Pension people about my first employer...whom I wrote about earlier...and tried to get something done. My fiancee is Korean and she even tried to be of assistance.
The Pension people refused to move on it because "...the economy is bad and if we forced her to pay backpayments and we fined her (and probably others) we'd force them into bankruptcy..."
This was back in 2003....whether they actually DO their jobs now---and enforce the laws---I wouldn't know.

gelynch52 · Joined: 18 Jan 2003

I work at ** * Foreign Language Institute in Suwon & I am told my place does not have the pension. There are 3 secretaries, 2 managers, at least 8 foreign full-time teachers, an unknown number of Korean teachers and innumerable part time teachers. How can I properly expect to get an honest answer? It appears the owner has his hands in somebody's pockets. This place teaches Samsung executives, V-Ps and engineers almost exclusively. There are classes both in the institute and at all 3 Samsung factories here in Suwon. It appears I will also have to start teaching a middle school class (in that school) next week & some others teach in various childrens hagwans under some contract agreement. Some help would be appreciated. Thanks

JohnTeacher · Joined: 10 Mar 2007 Location: Ansan-Si, South Korea

Hi,
There's a chance you could be potentially shooting yourself in the foot...but personally, I'd phone/contact the pension people and have a good talk with them. Perhaps everything's more on the "up and up" than it seems...but it'd help to have some definite answers.
I suppose, before making a move, you might ask yourself if things blow up in your face and you end up in deep doo-doo does it truly matter to you?
It sounds like you're working at a hagwon. (???) Depending on your experience(s), credentials, etc. jumping ship if you have to may not pose too much of a problem. Certainly, you're the best judge of the situation.