Korean Job Discussion Forums

[korea.teacher]

My recruiter sent me a contract that doesn't specify the amount for tax and helath insurance and pension deductions but states they will be taken out iaw. government law (see full text below). Is that sufficient?

Taxes. "Korean income taxes shall be withheld from the salary in accordance with Korean income tax law and paid to the authorities by "Institute."


Health Insurance. Employee's portion of the national insurance premium shall be witheld from the monthly salary and paid to the National Health Insurance authorities by "Institute" together with the employer's portion of the premium in accordance with the Korean Health Insurance Act.


Pension. The contract suggests that pension is optional but my undersatnding is that it is mandatory, just like health insurance. Does anyone have a reference to the national pension web site?

Here's the contract wording: "If "Teacher" wants to join the Korean National Pension program, "Institute" shall provide such a program in accordance with the Korea National Pension Act. The monthly pension contribution shall be withheld from the monthly salary and paid to the authorities by "Institute" together with the employer's portion of the contribution."

Thanks for your comments.