Korean Job Discussion Forums

[*wanderlust*]

How much tax and medical Insurance (percents) should be taken off of your salary? I've done a search and the word tax turned up hundreds of posts that are completely unrelated.

I earn a salary of 2.2 but with my overtime earned 2.42 million won.

4% was taken off for income tax.

204,000 won was taken off for: medical insurance; unemployment insurance; industrial accident insurance (apparently for major medical things such as surgeries, MRI's etc.) All of these things my school claimed for required by law and I did not have the choice to opt out of them.

99,000 won was taken off for pension (this I'm fine with).

The previous teachers at this school did not pay into pension or medical insurance. The school hired all new teachers this year (no one renewed their contract) and we all requested pension after it was not taken off our first 2 pay cheques. When the pension came off, so did these new insurance deductions.

From the posts I could find 3.3% seemed to be the consensus for income tax. I called the English number to ask someone at the tax office and they also said 3.3% for my tax bracket. When I asked my school, they said that the other .7% is for the domestic income tax (at least that's the "other" tax I think they were referring to).

Is paying 204,000 won in medical/unemployment insurance the norm in private schools? I there another income tax beyond the 3.3% that I can call the tax office and ask details about? Can I get this tax back if I file in Korea?

Thanks in advance for any help/info!

[BoholDiver]

It sounds like they signed you up for an optional health insurance. Additional coverage.

200,000 sounds steep.

[smoggy]

I make the same, & my school takes out 199,000w every month - taxes, medical 50% and pension ( a total of 9%) every month.) You at least will get your pension back
& the school does your tax return for you. You will probably get some tax back.

[Draz]

If you're on an E2 you should not be paying unemployment insurance and probably shouldn't be paying that "industrial accident" thing either, assuming it goes towards some payout if you're injured at work. You wouldn't be able to collect on either of them.

[VFRinterceptor]

[*wanderlust*]

That amount was just for the medical and unemployment insurance (around 200,000), doesn't include pension or income tax.

I met two of the teachers that worked before me. One was a good friend that returned to Canada to go to school and recommended the school to me while the other is bought a round the world ticket and is travelling for 6 months. Not sure on the other 2 teachers. They did not collect pension or have medical insurance and did not have a problem with it.

I've heard that once you are not employed you only have 2 weeks before you have to leave the country (unless you get a visa extension) so I don't see the point of paying into unemployment insurance. It just seems really high for medical. Maybe it's because I'm from Canada and used to it being free? I looked into expat insurance and it was less than $100 a month (about $1100 for a year of coverage) and it was much more extensive. Is anyone paying into this extra medical coverage and being told it's required by law?

[*wanderlust*]

Draz, are you saying that I would not be able to collect on any of this insurance if I was seriously hurt because I am not a Korean citizen? Same for unemployment insurance?

[Draz]

[loyfriend]