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Korean Job Discussion Forums
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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 Posted: Sat Aug 24, 2013 11:29 am Post subject: |
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| TheUrbanMyth wrote: |
| Waygeek wrote: |
| YTMND wrote: |
Not much. It's important to finish the year. After 1 year you get 1 year's severance plus 1/12 of a month's salary each month you work. |
What? I've never heard of that additional payment before... are you basically trying to say they give you a month's payment as severance? |
Where have you been? This has been discussed multiple times on Dave's as well as probably on just about every other site dealing with ESL in Korea.
By Korean labor law they are required to give you one month's severance pay for each year worked.
So if you work for one full year they MUST give you one month's pay (severance) at the end of it.
Two full years would be two months pay and so forth and so on.
Two things to note about this are:
1. Unless you work a FULL first year you are not entitled to the severance.
2. If you work there more than one year you are not entitled to severance at the end of the year but at the end of the contract. So if you work there say three years...you will get the three years severance at the end of the three years...not once per year. With a public school there's not much need to worry but with a hakwon
I'd ask for severance at the end of each year. |
The law has changed and this option is no longer legal. Severance is intended by the Korean government to be either a retirement fund or a transition fund available when unemployed or when changing from one job to another. It is no longer allowed for an employer to pay the severance year by year or when requested by the employee. The employer must wait until the employee has finished working completely with that employer. If you renew your contract you have to wait to collect. |
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jcd
Joined: 13 Mar 2012
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| Posted: Mon Apr 10, 2017 7:32 am Post subject: |
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| YTMND wrote: |
| Waygeek wrote: |
| YTMND wrote: |
Not much. It's important to finish the year. After 1 year you get 1 year's severance plus 1/12 of a month's salary each month you work. |
What? I've never heard of that additional payment before... are you basically trying to say they give you a month's payment as severance? |
After 1 year, the 13th month is the severance amount. If you do not collect on it, then it rolls over into the 2nd year, 1/12 of your salary is added/owed each month you work after 12 months.
So, if your salary is 2,100,000 for 1.5 years and you don't get 2,100,000 after 12 months, you should get 3,150,000 after 1.5 years of working. If you collect 2,100,000 after 1 year, then you can only get 2,100,000 again after the year. A pay raise in this example might mean you get 2,200,000 or 1/12 of the higher salary. Up to you to try to get 2,200,000 for 2 years without collecting the first year. |
Does anyone know for sure about working over a year ,say 1 year and 7 months .? Is the severance prorated or do you have to work another year to get the next severance .? |
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