Korean Job Discussion Forums

charlieDD · Joined: 16 Jun 2006 Location: Seoul, Korea

A colleague (American) is going to be leaving Korea after having taught for four years at two different places of employment. He is going to claim his pension refund. His visa is up on 15 February, but his contract, a two-year contract, is up next year, 2008 Feb. 15th.

He thinks he needs a letter of release to show to the Pension office because his contract is not over for another year.

I think he doesn't if he shows his visa is up on February 15th and he has a ticket for a flight after that.

I argue that having a letter of release would indicate you plan to stay in Korea because you only need a letter of release if you intend to switch employers before your contract is up with your present employer.

Who / which do you think is correct? Confused

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

georgiadawg · Joined: 04 Dec 2004

You can take your paperwork (one-way ticket, ARC Card, bankbook or foreign bank account info, and the lump-sum refund request form into the regional pension office (branches listed on their website - http://www.npc.or.kr/eng/g_index.html). Your employer must notify the office of your resignation... if they do not, then the pension office will call them to verify that you are leaving your job.

Atleast this is the way it was explained to me by my local pension office this week....

On another note, the lady at my local pension office was incredibly kind, efficient, and spoke near perfect English. I was surprisingly pleased with the service.