Korea Severance Pay Calculator (퇴직금)

Average Monthly Salary (last 3 months)

KRW

Years of Service

years

Severance Pay

—KRW

Average Monthly Salary—

Average Daily Wage—

Years of Service—

Severance Pay—

How Korea Severance Pay Works

In Korea, any employee who works for 1 year or more is entitled to severance pay (퇴직금). The formula is: Average daily wage x 30 days x (years of service). This applies to full-time and part-time workers working 15+ hours per week.

FAQ

Do foreigners get severance pay in Korea?

Yes. Korea's Labor Standards Act applies equally to foreign workers. If you have worked for one year or more with the same employer and worked 15+ hours per week, you are entitled to severance pay regardless of your visa type.

When do I receive severance pay?

Your employer must pay severance within 14 days of your last working day, unless otherwise agreed. If your employer refuses, you can file a complaint with the Ministry of Employment and Labor (고용노동부).

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This calculator provides estimates. For official guidance, contact the Ministry of Employment and Labor (moel.go.kr).