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  • riceboy77
  • Adventurer

    • 37

    • September 18, 2012, 01:33:44 pm
    • SEOUL
Early Severance pay
« on: December 22, 2016, 02:10:37 pm »
Hey guys, I'm with a public school program and my wife and I are planning to purchase an apartment in Korea. I was wondering, is it possible to cash out the severance early and continue working? Thanks !

  • Jmessler
  • Adventurer

    • 47

    • August 14, 2013, 02:08:39 am
    • Seoul
Re: Early Severance pay
« Reply #1 on: December 22, 2016, 02:36:55 pm »
I'm in a similar situation.  I work at a public school as well and I asked them about receiving my severance in order to purchase a better quality place.  The administration office at my school said that usually they don't give the severance money until after you leave your current workplace but due to the fact I would be using the money for my housing, it counts as an exception.  They said I just need to give them a copy of my housing contract. 

TLDR: Speak to your school's administration office.
Reality is an illusion which occurs due to the lack of alcohol.

  • Pecan
  • The Legend

    • 3769

    • December 27, 2010, 09:14:44 am
    • Seoul
Re: Early Severance pay
« Reply #2 on: December 22, 2016, 04:40:20 pm »
I know a couple people who have done this, but I don't know much more than that.

There is a maximum you can withdraw.

Best of luck.