Korean Job Discussion Forums

[pecan]

Quote:

5. If the aggregate period of extending the term of Employment pursuant to Article 10 is more than one (1) calendar year, Employer shall pay Employee one month salary as a severance pay (when employee leaves S.M.O.E.) for Employee's continuous employment of one year; according to the severance payment regulations.

I can't follow the above. Are they stating that they will not pay you severance at the completion of each yearly contract and just at the termination of your employment?

Those working for the SMOE for more than a year, did you receive your severance at the completion of your first year.

Quote:

2. Employee can't get more than 7 vacation days when terminating the contract on or before 6 months of employment. If the Employee accrued more than 7 vacation days, only 7 days will be paid by S.M.O.E. The remaining vacation days over the paid 7 days will be deducted from his/her paycheck.

What? I don't follow that.

SMOE will buy back 7 of my vacation days, but I get punished (via a pay deduction) for accruing vacation days over 7 if they go unused?

Thanks for your help and explanations.

[ttompatz]

pecan wrote:

[quote]5. If the aggregate period of extending the term of Employment pursuant to Article 10 is more than one (1) calendar year, Employer shall pay Employee one month salary as a severance pay (when employee leaves S.M.O.E.) for Employee's continuous employment of one year; according to the severance payment regulations.

I can't follow the above. Are they stating that they will not pay you severance at the completion of each yearly contract and just at the termination of your employment?

Those working for the SMOE for more than a year, did you receive your severance at the completion of your first year?

Quote:

2. Employee can't get more than 7 vacation days when terminating the contract on or before 6 months of employment. If the Employee accrued more than 7 vacation days, only 7 days will be paid by S.M.O.E. The remaining vacation days over the paid 7 days will be deducted from his/her paycheck.

What? I don't follow that.

SMOE will buy back 7 of my vacation days, but I get punished (via a pay deduction) for accruing vacation days over 7 if they go unused?

Thanks for your help and explanations.[/quote]

short answer:

It means that severance is NOT prorated for partial years.

You get one months salary for each full year worked.

This is per the old Korean labor standards act (article 34) and the new amended laws:
Employee Retirement Benefit Security Act
http://english.molab.go.kr/data/EmployeeRetirementBenefitSecurityAct.pdf

The last part means that if you take 7 days of your vacation at the end of your contract you will receive the full months pay.
If you take more than 7 days at the end of your contract you will not get paid for the days over 7.
(note: take your holidays DURING the school holiday periods rather than at the end of your contract (to make your employment term shorter).

Severance usually gets paid out annually for those who extend beyond one year.

.

[Bibbitybop]

Currently, SMOE only pays severance when you finish working for SMOE.

If you finish one contract and do not re-sign, you will get 1 month's severance.

If you re-sign onto a second year, you don't get your severance yet. If you finish working for SMOE after 2 years, you will get 2 months of pay. This is based on your final pay level. For instance, if you make 2.2 mil a month your first year and 2.3 mil a month your second year, you will get 2 months pay at 2.3 mil = 4.6 mil.

There have been mentions of making severance pay optional after your first contract is completed, even if you re-sign. It has not yet been decided.



Your other issue, vacation.

There are 21 business days of regular vacation. The contract states you can't take more than 7 during the first 6 months of vacation. This is often over looked. I personally took 14 of my days before 6 months elapsed in my current contract with SMOE.

But if you quit before 6 months and took more than 7 days, SMOE will consider anything over 7 days as "unpaid" days since you didn't complete 6 months of work.

This only affects you if you don't complete your contract with SMOE.

[pecan]

Thanks for the very helpful posts.

I intend on working for the SMOE for a few years, so their policy of holding on to severance until one leaves is very unfortunate.

Not sure why they would seek to punish those that were committed to the program by preventing them from investing their severance?

I sure hope they change that practice.

[pkang0202]

[ttompatz]

[Figure8]

Bibbity annd Pkang...

On a related issue, if you've got the contract and offer, but haven't signed with SMOE yet, and you are still going through the second round paperwork gathering process, does it make a big difference, in your opinion, if it takes a few weeks to get everything to the recruiter and SMOE?

We're still the midst of ordering all of the apostilles, etc., updating one of our passports, etc., so will a delay of maybe a few weeks affect us adversely as far as our placements go? I wouldn't think so, since it is so early, and we've already been offered the positions. But I'm curious about that.

I didn't know about the severance pay point. Glad it was mentioned.

[Bibbitybop]