Free Tool — 퇴직금
Korean Severance Pay Calculator
Calculate your Korean severance pay (퇴직금). Under Korean labor law, employees who have worked for at least one year are entitled to 30 days' wages for each year of service.
Average of your last 3 months' total earnings (base + overtime + allowances)
Months beyond full years (0-11)
Regular annual bonus (if any) - will be prorated into monthly average
Eligibility Requirements
- •Minimum 1 year of continuous employment
- •Average 15+ hours per week over any 4-week period
- •Applies regardless of resignation reason (voluntary or involuntary)
How Severance is Calculated
Korean law requires employers to pay 30 days' average wage for each year of continuous service. The average wage is calculated from your total earnings over the last 3 months, including base salary, overtime, and regular allowances.
Severance = Average Monthly Salary × Years of ServiceWhat's Included in Average Wage
- ✓ Base salary
- ✓ Overtime pay
- ✓ Position/role allowances
- ✓ Regular incentive bonuses
What's Excluded
- ✗ Irregular one-time bonuses
- ✗ Expense reimbursements
- ✗ Welfare benefits
This calculator provides estimates based on standard severance formulas. Actual severance may vary based on employment contract terms, company policies, and specific circumstances. For disputes or complex situations, consult a Korean labor law specialist.
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