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Leaving Korea soon... am I ready?
« on: February 07, 2011, 08:17:40 am »
This might sound like a stupid question, but I've heard so many things from so many people, I just want to make sure I have it straight:

What all do EPIK teachers get (in terms of money) when they leave Korea?

Thanks for your help.  :)


  • DMZ
  • Super Waygook

    • 407

    • December 16, 2010, 08:34:43 pm
    • Incheon
Re: Leaving Korea soon... am I ready?
« Reply #1 on: February 07, 2011, 08:20:48 am »
Severance Pay equivalent to approximately one month's salary

Your security deposit (if you're an Incheon teacher)

Your pension

Exit allowance of 1.3million.

Only catch is you get all of this only a couple of weeks after you have actually left.


Re: Leaving Korea soon... am I ready?
« Reply #2 on: February 07, 2011, 08:22:31 am »
Pension is dependent on what country you are from. I know us Brits don't get it, it depends on what agreement your country has with Korea.


  • AC_in_Korea
  • Super Waygook

    • 263

    • July 30, 2010, 11:25:33 am
    • Miryang, South Korea
Re: Leaving Korea soon... am I ready?
« Reply #3 on: February 07, 2011, 08:22:41 am »
Of course it will depend on your contract terms - but I think generally our contracts are similar. 
You should expect -
1. your final pay
2. one month's salary severance
3. flight payment - but this varies contract to contract (they may pay for your flight directly, reimburse you, or give a lump sum)
4. Depending on where you are from, you may get your pension payments back - but this is not through the school. You have to visit the pension office closest to you, with all of your banking information in your home country, and they will transfer the money into your account within a month of getting home.

I hope this is accurate, and I hope it helps.....
Be the change you want to see in the world.


Re: Leaving Korea soon... am I ready?
« Reply #4 on: February 07, 2011, 08:25:04 am »
Some teachers have managed to get their severance pay before leaving through the fine art of diplomacy, but the pension (processed by the government) can't be paid until you've left the country, and your housing deposit, if you paid one, can't be paid until you've left your housing.


  • jehall
  • Veteran

    • 213

    • April 08, 2010, 01:20:16 pm
    • Uijeongbu, South Korea
Re: Leaving Korea soon... am I ready?
« Reply #5 on: February 07, 2011, 08:41:46 am »
Exit allowance??? What's that all about? I only know about severance, housing deposit, pension.

Severance Pay equivalent to approximately one month's salary

Your security deposit (if you're an Incheon teacher)

Your pension

Exit allowance of 1.3million.

Only catch is you get all of this only a couple of weeks after you have actually left.


  • eleSANDro
  • Explorer

    • 8

    • September 09, 2010, 06:23:50 am
    • Yangsan
Re: Leaving Korea soon... am I ready?
« Reply #6 on: February 07, 2011, 08:45:13 am »
I got all my monies before I left my previous school. Except pension, cos I'm from S.Africa.
Every situation is different. Best you look into your contract. Pretty sure it's clearly spelled out in some section there.

All the best!


  • sbbaas
  • Adventurer

    • 44

    • April 01, 2010, 06:02:18 pm
    • SK
Re: Leaving Korea soon... am I ready?
« Reply #7 on: February 07, 2011, 08:46:19 am »
Exit allowance is basically flight reimbursement. It's to cover the expenses needed to leave S Korea


  • DMZ
  • Super Waygook

    • 407

    • December 16, 2010, 08:34:43 pm
    • Incheon
Re: Leaving Korea soon... am I ready?
« Reply #8 on: February 07, 2011, 08:47:04 am »
Ya if you're South African you wouldn't have to pay any pension at all.

Your exit allowance works the same way as your 1.3million entrance allowance.


  • jehall
  • Veteran

    • 213

    • April 08, 2010, 01:20:16 pm
    • Uijeongbu, South Korea
Re: Leaving Korea soon... am I ready?
« Reply #9 on: February 07, 2011, 08:56:13 am »
I never had to put up my flight money (went through a recruiter) so I assume the entrance and exit allowances don't apply to me?