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wings
Joined: 09 Nov 2006
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 Posted: Thu Aug 28, 2008 9:01 pm Post subject: SMOE re-signing, severance? |
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I have re-signed with SMOE and was expecting to get my severance payment along with my final pay from my last contract. My coteacher has no idea what is really going on, but her interpretation of the contract:
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| If the aggregate period of extending the term of Employment pursuant to Article 10 is more than one calendar year, Employer shall pay Employee one-month salary as a severance pay (when employee leaves SMOE) for Employee's continuous employment of one year according to severance pay payment regulations |
is that when I leave SMOE I will get a one month bonus, even though I will have worked for 2 years.
This isn't what I understood so if anyone could shed some light on the subjet that would be fab.
Also I would much rather get my bonus for this last year now, rather than waiting a year. Am I entitled to it now or do I have to wait until I leave the country?
Cheers! |
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marlow
Joined: 06 Feb 2005
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| Posted: Thu Aug 28, 2008 9:27 pm Post subject: |
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| What does article 10 say? |
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JJJ
Joined: 27 Nov 2006
Location: Seoul
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| Posted: Thu Aug 28, 2008 9:30 pm Post subject: |
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| You get it when you leave the country. It can be after your second or third contract or after 1 year, 2 months if you decide to quit. This is all covered in SMOEWorld. |
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wings
Joined: 09 Nov 2006
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| Posted: Thu Aug 28, 2008 10:13 pm Post subject: |
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I"m not a member of SMOEworld...
So when we leave the country we get 1 month bonus for each year worked? or one month bonus in total? |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Thu Aug 28, 2008 10:25 pm Post subject: |
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| wings wrote: |
I"m not a member of SMOEworld...
So when we leave the country we get 1 month bonus for each year worked? or one month bonus in total? |
You get a month for each FULL year you worked. So, if you worked 2 years, you get 2 months pay as severance. |
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A2Steve
Joined: 10 Nov 2007
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| Posted: Thu Aug 28, 2008 10:39 pm Post subject: |
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Is that for all schools, including GEPIK or EPIK? If so, that stinks. The original contract spells out a bonus at the end..... nothing about a "rollover," at least in mine.
 has anyone re-signed but also gotten the severance due at the end of the first contract? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Aug 29, 2008 1:22 am Post subject: |
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| A2Steve wrote: |
Is that for all schools, including GEPIK or EPIK? If so, that stinks. The original contract spells out a bonus at the end..... nothing about a "rollover," at least in mine.
has anyone re-signed but also gotten the severance due at the end of the first contract? |
GEPIK pays out the severance each year (usually a week or 3 after your contract completes).
NOT all other POEs do. Some accumulate it until you leave
BUT
under the current law you are allowed to "REQUEST" that your severance be paid out early and they are legally required to pay what they owe you and then start the clock again.
Employee Retirement Benefit Security Act (which replaces article 34 of the old labor standards act).
http://english.molab.go.kr/data/EmployeeRetirementBenefitSecurityAct.pdf
. |
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A2Steve
Joined: 10 Nov 2007
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| Posted: Fri Aug 29, 2008 4:16 am Post subject: |
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Thank you much! forewarned is forearmed!  |
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eac02
Joined: 23 Jan 2008
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| Posted: Fri Aug 29, 2008 4:49 pm Post subject: |
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| ttompatz wrote: |
| A2Steve wrote: |
Is that for all schools, including GEPIK or EPIK? If so, that stinks. The original contract spells out a bonus at the end..... nothing about a "rollover," at least in mine.
has anyone re-signed but also gotten the severance due at the end of the first contract? |
GEPIK pays out the severance each year (usually a week or 3 after your contract completes).
NOT all other POEs do. Some accumulate it until you leave
BUT
under the current law you are allowed to "REQUEST" that your severance be paid out early and they are legally required to pay what they owe you and then start the clock again.
Employee Retirement Benefit Security Act (which replaces article 34 of the old labor standards act).
http://english.molab.go.kr/data/EmployeeRetirementBenefitSecurityAct.pdf
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but in some cases wouldn't it be better to wait until you leave to collect severance because you would potentially get more. the way I understood it was if you work 2 years and get a raise you get 2 months severance at the higher salary point. am i completely wrong about this? |
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