Korean Job Discussion Forums

[bish]

I paid 3 installments of 300,000 won at the start of my contract as a "security deposit". I may need to resign from my contract and was wondering if anyone knows if this is refunded or lost if the employee resigns?

[livinseoul]

My guess is that you will have lost it. Look at your contract see what it states. 3 X 300,000 = 900,000 - do you mind if I ask what this was for.

[biggpoppa]

usually the contract will answer that for sure with a line like "to be returned upon completion of this contract blah blah blah"

if you're lucky (like i am lol) your boss will be a nice guy and give it back to you...mine was 300 000 (100 000 x 3) and i'm leaving at the 8 month mark and he's giving it back to me...

it all depends...

livinseoul - my guess is that it's a housing security deposit for runners, damages and utilities to be refunded less any problems stated above...

[spliff]

No reason why it shouldn't be refunded. It's robbery if it isn't.

[mrsquirrel]

If you give notice as per your contract there is no reason for it not to be refunded after final bills have been deducted.

[Mi Yum mi]

Deposits are illegal.

[mrsquirrel]

How do you know?

Have you ever paid a deposit on an apartment in your home country?