Korea Severance Pay Calculator
Enter your start date, last day and recent wages for an estimate of severance pay.
Estimate only. Actual severance pay depends on company rules, ordinary wage and retirement pension enrollment.
About the Korea Severance Pay Calculator
Under Korean law, severance pay = average daily wage ร 30 days ร (days of service รท 365). The average daily wage is the total wages for the three months before leaving, plus 3/12 of the yearly bonus and 3/12 of annual leave pay, divided by the number of days in those three months. This calculator does the steps for you. It is an estimate for reference only.
Frequently asked questions
Who is entitled to severance pay in Korea?
Employees who have worked continuously for at least one year and work an average of 15 or more hours per week. If the period of service is under one year, statutory severance pay does not apply.
What counts as wages for the last three months?
Generally all pre-tax wages you received in the three months before leaving: basic pay, fixed allowances and overtime, night and holiday pay. Whether a particular allowance counts can depend on company rules.
When must severance pay be paid?
Under the Labor Standards Act it must be paid within 14 days after the employment ends, unless both sides agree to extend the deadline.
Is the result exact?
It is an estimate. If the average wage is lower than the ordinary wage, the ordinary wage is used. Retirement pension plans (DC or IRP), unpaid leave periods and company rules can change the amount. For an exact figure, ask your HR department, the Ministry of Employment and Labor (call 1350 in Korea) or a labor attorney.
Is what I enter stored on a server?
No. Everything is calculated inside your browser. Nothing you enter is sent to or stored on any server.