Korean Job Discussion Forums

[silversurfer8]

I hope someone can shed some light about this matter!
I�m currently contracted to teach until late August of this year. However, I�ve found employment with a school district in the United States that begins around August 1st (3 weeks short of my contract ending date).
I�m wondering if I give one month�s notice on July 1st to start the American job on August 1st, have I�ve covered everything and anything that my employer might hold against me?

To my knowledge, I�m doing everything by the book, but I worry I may ruffle some feathers and get my pension or my bonuses (which add up to 8 years).
I�m assuming I�ll miss out on this year�s bonus since I won�t be completing the contract.

I�m wondering how long it takes after putting in notice or fulfilling the contract, when the teacher can receive the bonus money from the boss as well as how long it takes for severance pay to come in from the goverement. I�m guessing a few months, but I�m not sure exactly.

Is there anything I can do now to get the ball rolling on the bonuses and severance pay, so I won�t have to wait so long for the payments after finishing the job? Any paperwork etc, or be up front with my boss and maybe he can get things moving more quickly.

Any advice would be much appreciated!

Have a great day!

[ttompatz]

Severance comes from the employer.
Pension (NPS) comes from the government.

The employer is obligated to pay out your severance and final salary within 14 days of termination of employment (labor standards act).

The NPS will usually forward your pension account to you within 90 days (often within 30).

You are NOT legally obligated to give notice and in spite of what your labor contracts says you, as an employee, cannot be held to a period of notice (clauses contrary to labor law are not enforceable).

If you want to negotiate an early (or on-time) payout then negotiate your best deal. Otherwise they don't have to pay until 14 days AFTER you have left the job (and it would appear that you would have left Korea by that date as well).

If you are at a hagwon prepare to get screwed.

If you are with the government then you only lose out on your severance for the last 11 months of employment and your exit allowance.

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