Korean Job Discussion Forums

[sleeplessinla]

I will be going back to the STATES in four months. I was wondering what sort of money I should expect to receive for my employment in Korea aside from the obvious monthly paycheck and severance pay. I keep hearing that I am entitled to a tax refund...last year, a tax refund was given to me through my paycheck at the start of the new year...but since I am leaving midway of the year, will I see any tax refund? Also, how does the pension refund work? Every year, I get a letter telling me how much pension is owed me so far...but how do I go about getting it once I finish my contract? Will my employer fill out the paperwork for me and send it to my account in the STATES along with my severance? Also, are there any other PAYMENT I should be receiving at the end of my contract that I am not aware of?

[Tobias]

Not sure how the tax refund works. I do know if you're in your first two years here, you're exempt and should get that back. Some outfits will want you to submit a proof of residency, which will be the IRS form 6166. I'm still working on getting my tax refund and I left my job more than 6 weeks ago. When I get it back, I'll know how one goes about getting it back.

You'll get the pension refund once you turn in your CRC and leave Korea. That should take about 6 weeks if they're sending it to a bank in the USA. You'll need to go to the pension office and fill out the proper forms before you leave. And you won't need your school official to accompany you. But this trip assumes your outfit has paid into the pension fund. You should review your settlement sheets/pay stubs and then call the pension office to see what your balance is. You can also do that online.

If they're obligated to give you a plane ticket, they will definitely have to give you that or the cash equivalent.

I think that about covers everything you're entitled to. Know that some places will expect you to pay a maintenance fee for your apartment if the school provides it. If you haven't been paying this each month, they may spring it on you in your last week. It'll be between 150K and 200K.