Korean Job Discussion Forums

[sistersarah]

is severance pay a law in korea, or is that just a hogwan thing?

i'm quitting my company job soon. it'll have been one year and i was just wondering if i'm entitled to severance pay. anyone else here work for a company and collect severance?

i heard it was law, but i'm not sure.

[keithinkorea]

I'm pretty sure it's the law. After one year the severance is pro rated at your last salary. If you work for the same firm for many years you'll get a crapload of money on finishing with them.

That's probably the reason so many old Korean guys are got rid of by companies. They would be in for pretty huge payoffs if they spent their whole lives working for one company.

[Mr. Pink]

It's the law.

[sistersarah]

thanks, guys!

[helly]

The good thing about company jobs (I've found) is that they are usually better at administrative work and most likely will have been keeping good record of what your benefits are and what you should expect.

The bad thing is that some of them count the first 3 months as a kind of probationary period and don't count that towards your full-time employment. Its rare but it happens. I'd double check that with the HR or Admin department ASAP if your departure isn't a surprise. If you haven't sprung the news yet, I'd make sure all is in order before you finally go.

With hogwans, the last two weeks are spent just waiting to get out. With companies, the last two weeks should be spent getting what you're due.