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Severance Amount
« on: February 21, 2020, 08:46:41 am »
Hi guys.  My school is being weird in regards to severance pay and I wanted to make sure before I talked to them about it.

This is my base pay for the last four years:
Year 1:  2.0 million
Year 2:  2.1 million
Year 3:  2.3 million
Year 4:  2.5 million

How much should I get in severance?


  • Colburnnn
  • Super Waygook

    • 345

    • August 10, 2015, 05:52:37 pm
    • South Korea
Re: Severance Amount
« Reply #1 on: February 21, 2020, 08:49:30 am »
2.5 x 4


Re: Severance Amount
« Reply #2 on: February 21, 2020, 08:53:03 am »
Yeah it's your current salary x number of years worked. 


Re: Severance Amount
« Reply #3 on: February 21, 2020, 08:57:23 am »
Okay thank you .  Yeah my school was talking about taking the average of all four years (2.225 mil) and just giving me that.  Ugh.  Why do schools have to be so difficult.

Thanks again :)


  • thunderlips
  • Hero of Waygookistan

    • 1739

    • June 07, 2012, 10:01:55 am
    • South Korea
Re: Severance Amount
« Reply #4 on: February 21, 2020, 09:00:07 am »
It is the average of your last three months salary. It "may" include any additional regular payments, such as multiple school bonus, rural bonus and housing allowance. I've heard conflicting information about these added regular payments, MEOL says they aren't included, but the labor law says they should be.


Re: Severance Amount
« Reply #5 on: February 21, 2020, 05:37:31 pm »
If this has been your base pay :

Year 1:  2.0 million
Year 2:  2.1 million
Year 3:  2.3 million
Year 4:  2.5 million


1) Your Severance Average Ordinary wage Calculation will be based upon the Year 4 Salary.
2) The total amount of annual leave you are owed is:

a) y1: 15
b) end of yr1: 11
c) y2: 15
d) yr3: 16
e) Yr4: 16

For a total of 63 days.
What ever annul leave you have not used must be paid to you in cash.
25% of the cash value of the unused annual leave is added to the calculation amount of Severance.
The Allowances are added to Severance, Bonuses are not added to Severance.
The last three months of earned wages are used to calculate Severance, so if you have worked overtime in the last three months it is added to the calculations there are some key guidelines for that process.


Really, you are probably looking to receive something, at minimum, of 3 M KRW per year prorated.
The "bump" comes from the method of calculation of Severance which utilizes 30 Calendar Days (not the 21.4), the massive annual leave you have (which have not probably used) and if you were to check your hours you worked vs the hours stipulated in the contract (chances are "30 hours" is what is legally binding with the rest being overtime) and if you are give rest periods.

Really, it may be as high as 13 M KRW depending on your annual leave usage and if you are owed any overtime.

If there are unpaid wages the statue of limitation is 3 years, but you also get paid interest on that amount which is unpaid  at the rate of 1.6% per month it is owed.

Cheers,