Korea Severance Pay Calculator

If you have worked at least one year, Korean law requires your employer to pay severance. Enter your dates and wage to estimate it.

Checked October 2026 · Employee Retirement Benefit Security Act and retirement income tax rules

Start date

Leaving date

The leaving date is the day after your last working day.

Monthly wage before tax (average of last 3 months)

₩

Base pay plus allowances such as meals, before any deductions.

Add bonus / unused leave pay (optional)

Bonuses received in the last 12 months

₩

Unused annual leave paid in the last 12 months

₩

Estimated severance (after tax)

₩0

FAQ

Who is entitled to severance pay in Korea?

Any employee — full-time, contract or part-time, Korean or foreign — who has worked for the same employer for at least one year and averaged 15 or more hours a week. Small businesses with fewer than 5 employees must pay it too.

How is it calculated?

Average daily wage × 30 days × (days of service ÷ 365). The average daily wage is the total pay of the last three months divided by the number of days in that period. One twelfth of the year's bonuses and leave pay is added for each month in that period.

When must my employer pay?

Within 14 days of your leaving date, unless you agree otherwise. After that you can claim 20% annual interest on late payment and file a complaint with the Ministry of Employment and Labor (call 1350).

Is severance taxed?

Yes, with retirement income tax, which is much lower than regular income tax because it gives large deductions for each year of service. Local income tax adds 10% of that tax.