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  • flasyb
  • Hero of Waygookistan

    • 1901

    • November 30, 2010, 12:10:03 pm
    • South Korea
I'm hoping that people who have had experience with this can answer for me.

I'm re-signing with my school. Standard contract so with the first contract I got the entrance and exit allowance of 1,300,000 each and with the next contract the 2,000,000 re-signing bonus.

The thing is, I only intend to stay for 5 more months.

At the moment it looks like I won't get the exit allowance but I will get the 2,000,000 re-signing bonus straight off the bat. Because in my second year I will be leaving after just 5 months, my school is saying that I won't get any exit allowance at all (2,000,000 instead). Is this right?

Also, there is a caveat in the contract that says if I terminate the contract within 6 months of re-signing, I have to pay back 700,000won. Is this right?

With all this, it will amount to me getting the same in allowances as if I hadn't re-signed:
Entrance allowance (1,300,000) + Exit allowance (0) + Renewal (2,000,000) - early termination penalty (700,000) = 2,600,000

2,600,000 is the same as what I would have gotten with the entrance (1,300,000) and exit allowance (1,300,000).

It kind of seems fair to me because I'm only staying for an extra 5 months. I'm happy that my school is keeping me on for just 5 more months given that I know people who work for other public schools who have been told that's "impossible." If I could stay for 6 months, I wouldn't have to pay the early termination penalty which would be great but I can't do that.

I just want to know if my school is right on this contract issue. Anybody else leave without completing the second term? What happened?

That's my main question above. I have one other question. Is the severance pay always just one month's pay or will they sort of pro rota it? For example, if I completed 2 years, would I get two months pay as severance and thus for completing 1 year and 5 months get a severance package equivalent to that?

Thanks guys.
In a time of universal deceit, telling the truth is a revolutionary act.

We are not "guests" in Korea. Korea didn't invite us over for Pimms in the garden. We are paid employees.


  • lotte world
  • The Legend

    • 2272

    • August 22, 2011, 09:00:38 pm
    more
Re: Quick question for those who re-signed but didn't complete full year
« Reply #1 on: September 07, 2011, 11:59:44 am »
It sounds about right.  You have actually read your contract!!  I have the same contract (EPIK) and it's pretty clear how it works, and yes, if you leave early you end up with effectively no bonus.

The severance pay AFAIK is paid at 1/12 of the number of months worked, with a minimum of 12 months.   As I see it, you would qualify for 12 months' service and get your severance fairly soon after your first contract ends.  However, some people have said they can defer collecting the severance until they actually leave, which works out as a higher amount because your salary is higher after you have been here a while).  So, if your school is willing they might be able to defer your severance payment until you leave, so you get 17/12 x new salary.  I'd be a little careful though, bird in the hand etc.  Whatever you do, if you come to some arrangement then get it in writing.


  • BusanSam
  • Waygookin

    • 10

    • April 07, 2011, 07:20:57 am
    • Busan
Re: Quick question for those who re-signed but didn't complete full year
« Reply #2 on: September 07, 2011, 11:59:56 am »
When you finish your first contract you'll get your severence pay (one month's pay) for one year and a re-sign bonus (2 million).

When you break your contract at 5 months, you'll pay back the 700,000. You won't get an exit allowance and you won't get any severence pay for the 5 months.

If you completed your second year, your severence pay would be one month's pay. It doesn't carry over to each contract, it's just paid at the end of each. 


  • flasyb
  • Hero of Waygookistan

    • 1901

    • November 30, 2010, 12:10:03 pm
    • South Korea
Re: Quick question for those who re-signed but didn't complete full year
« Reply #3 on: September 07, 2011, 12:11:57 pm »
Thanks lotte world and BusanSam. At first I was like, "What? Trying to get out of paying me the exit allowance? Oh no they didn't!" Then I took the time to read the contract in detail and it seems entirely fair. I just wanted to check that it was the same for others with the same contract or see if anyone else did the same thing.

With regards to the severance, during our talks my co-teacher has told me that the school sees this as more of a contract extension rather than an entirely separate contract. With that in mind, I'll be hoping for the 17/12s severance bonus but given what BusanSam has said, I won't be expecting it.

Thanks again.
In a time of universal deceit, telling the truth is a revolutionary act.

We are not "guests" in Korea. Korea didn't invite us over for Pimms in the garden. We are paid employees.


Re: Quick question for those who re-signed but didn't complete full year
« Reply #4 on: September 07, 2011, 02:56:47 pm »
Severance pay for some provinces is paid at the end of employment with that employer, not at the end of individual contracts.


  • flasyb
  • Hero of Waygookistan

    • 1901

    • November 30, 2010, 12:10:03 pm
    • South Korea
Re: Quick question for those who re-signed but didn't complete full year
« Reply #5 on: September 07, 2011, 03:05:11 pm »
Severance pay for some provinces is paid at the end of employment with that employer, not at the end of individual contracts.

Yeah! Turns out that my co-teacher has some kind of contract book specifically for interpreting EPIK contracts. He says it's done by the day so they work out my daily salary and then multiply it by 365 to work out the year's severance pay. He said it will be one day's pay multiplied by 515 (days) for finishing one year and five months. I'm very happy with that.
In a time of universal deceit, telling the truth is a revolutionary act.

We are not "guests" in Korea. Korea didn't invite us over for Pimms in the garden. We are paid employees.


Re: Quick question for those who re-signed but didn't complete full year
« Reply #6 on: September 07, 2011, 03:58:51 pm »
Severance pay for some provinces is paid at the end of employment with that employer, not at the end of individual contracts.

Yeah! Turns out that my co-teacher has some kind of contract book specifically for interpreting EPIK contracts. He says it's done by the day so they work out my daily salary and then multiply it by 365 to work out the year's severance pay. He said it will be one day's pay multiplied by 515 (days) for finishing one year and five months. I'm very happy with that.

Wow really? I didn't think that was the case at all. I thought you only get 1 year, not any extra months.


  • flasyb
  • Hero of Waygookistan

    • 1901

    • November 30, 2010, 12:10:03 pm
    • South Korea
Re: Quick question for those who re-signed but didn't complete full year
« Reply #7 on: September 07, 2011, 08:29:25 pm »
Severance pay for some provinces is paid at the end of employment with that employer, not at the end of individual contracts.

Yeah! Turns out that my co-teacher has some kind of contract book specifically for interpreting EPIK contracts. He says it's done by the day so they work out my daily salary and then multiply it by 365 to work out the year's severance pay. He said it will be one day's pay multiplied by 515 (days) for finishing one year and five months. I'm very happy with that.

Wow really? I didn't think that was the case at all. I thought you only get 1 year, not any extra months.

That's the way it looks at the moment. I'm not counting any chickens given that everything is subject to change in Korea but my co-teacher showed me the clarification in this big old contract book he has (it was in Korean so he explained it) and did the working out. He seems convinced it's 515 days but if you have an SMOE or GEPIK contract, it may be different.
In a time of universal deceit, telling the truth is a revolutionary act.

We are not "guests" in Korea. Korea didn't invite us over for Pimms in the garden. We are paid employees.