Korean Job Discussion Forums

[ampersandman]

Get a load of this:

Previous employer told me to wait a while for my deposit refund, as she would have to account for year-end tax "adjustments". So I raised my eyebrows and waited for two months.

As it turns out, this is how much:

135,250 for pension.

113,950 for health insurance.

57,000 for "long term care insurance" (never understood wtf that was...)

After those deductions plus the utility payments for my final month, I'm left with a grand total of 14,750 (yes, fourteen, not 140) won from my original deposit of 500,000.

How has it gone for all you other E-2 suckers?

[ampersandman]

I should add that my pension deduction was always 99,000 per month because it's fixed at 4.5% of my base salary (the other 4.5% paid by employer). Right? So where could this "adjustment" possibly come from?

I'd be really, really interested to hear if anyone else has been screwed in exactly this particular manner, and what you were able to do about it (if anything).

Thanks in advance.

[basic69isokay]

As the Korean economy slows down, ALL deposits must be avoided. Especially large ones like jonsae or housing deposits. The likelihood that you wont get it back is skyrocketing

[ampersandman]

I just checked and found out that it's actually because of the overtime hours that I worked that they didn't include when calculating my monthly deductions. So, this is semi-legitimate, except for the fact that these adjustments reflect an amount of overtime that would be much higher than what I actually worked. Oh well too much of a headache for me to fight over.