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Darkness
Joined: 12 Oct 2006
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 Posted: Mon May 14, 2007 6:31 pm Post subject: 6 Month Severance Pay |
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| Is it true that after 6 months into a contract they have to give you half your severance pay?? |
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ilovebdt
Joined: 03 Jun 2005
Location: Nr Seoul
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| Posted: Mon May 14, 2007 6:35 pm Post subject: |
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No. You can only receive severance pay if you have completed your first contract with a company. However, if you have extended your contract and agreed that severance on the extension be prorated with your school then yes.
Your best bet is to call the Labour Board on 1350.
ilovebdt |
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ThePoet
Joined: 15 May 2004
Location: No longer in Korea - just lurking here
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| Posted: Mon May 14, 2007 6:35 pm Post subject: |
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| no, unless you have also already worked one year for the same employer concurrently before the next contract. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon May 14, 2007 6:35 pm Post subject: Re: 6 Month Severance Pay |
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| Darkness wrote: |
| Is it true that after 6 months into a contract they have to give you half your severance pay?? |
NO....
Under article 34 of the Korean Labor Standards Act they are only required to pay severance after one FULL year of employment and it is equal to 1 months salary ( see the act for definition of 1 months salary) for EACH FULL YEAR of employment.
1 year = 1 month pay as severance.
2 years = 2 months pay as severance.
1.5 years = 1 month pay as severance. (only 1 full year) |
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jazblanc77
Joined: 22 Feb 2004
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| Posted: Mon May 14, 2007 9:57 pm Post subject: |
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| NO. Severance is retroactive only after you have completed at least 12 months of work for the same company. |
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kingtout
Joined: 03 May 2007
Location: ROK...again...
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| Posted: Tue May 15, 2007 4:57 am Post subject: |
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| Just build it into your contract. Don't accept less than .1 or .15 more than what the offer is. |
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