Korean Job Discussion Forums

[teacherrich]

Hello all,

I am doing a tentative monthly budget prior to arriving in Daegu (I will adjust it as needed that first month) and I am trying to estimate my monthly income after deductions have been taken out for health care, pension, income tax, etc.

My income for the year is 25,000,000 won ($22,583.56), which comes out to about 2,083,333 won ($1,881.06) per month. I have been told that it ends up being around $1,700 after deductions. Does that sound about right?

Thanks

[ttompatz]

[Troglodyte]

[teacherrich]

Thank you Ttompatz, that helped a lot. Troglodyte, I know that the organization that I am working for is reputable, as far as income goes. According to the contract itself, "the salary for this 12 month contract is South Korean Won 25,000,000." It then goes on to add that: "the severance payment for this 12-month contract will be calculated as approximately 1/12th of your earnings for the total contract."

In other words, the severance payment is an addition to my 12 month income, not part of it.

Thank you for helping out though.

[watergirl]

Has anyone ever had these deductions off their cheque before? Bc I've worked several jobs and never seen these deductions..
thanks.

[Troglodyte]