Korea Severance Pay Calculator — Toejikgeum (Retirement Allowance)

Input

Start date

Last day of employment

Total wages for the last 3 months (gross)

Annual bonus (last 12 months)

Unused annual leave pay (last 12 months)

Employees who worked 1 year or more and at least 15 hours a week are entitled to severance pay (Employee Retirement Benefit Security Act Art. 8).
Average wage = wages for the 3 months before leaving ÷ number of days in that period, plus 3/12 of annual bonus and unused leave pay.
It must be paid within 14 days after leaving. Foreign workers (incl. E-9) are entitled under the same rules; E-9 workers usually receive it through departure guarantee insurance.

Yes. Anyone who worked 1 year or more for at least 15 hours a week is entitled regardless of nationality.

Average daily wage × 30 days × (days of service ÷ 365). The average daily wage is based on the last 3 months of pay.