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  • Mandatory Retirement Benefits for employees under Korean labor law
    This post is a brief explanation of mandatory severance benefits that are required by Korean labor law Employee Retirement Benefit Security Act stipulates mandatory severance packages for employees who leave a company after at least one year of service
  • Termination of Employment in South Korea: Laws Severance
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  • Understanding Termination and Severance Regulations in South Korea
    According to the Korean Labor Standards Act, employers are required to provide severance pay to employees who have been with the company for a minimum period of one year This legal obligation ensures that employees receive financial support upon their departure, thereby mitigating the economic impact of job loss
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    Korean labor legislation requires severance pay in many circumstances Specifically, the Guarantee of Workers’ Retirement Benefits Act (GWRBA) governs severance requirements The GWRBA defines severance pay as a payment made by the company to resigning or retiring professionals
  • Understanding South Koreas Labour Law Employment Regulations - BIPO
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  • Why is Korea’s Legal Severance Pay So Important? How Does It Differ . . .
    In Korea, the Labor Standards Act ensures that employees who’ve worked for at least one year are entitled to severance pay equivalent to 30 days of average wages for each year of service Think of it as a loyalty reward program—except it’s legally binding, and no points get deducted!
  • Employment Termination in South-Korea - Rivermate
    Understanding the nuances of notice periods, severance calculations, valid grounds for termination, and procedural steps is essential for any employer Notice Period Requirements South Korean law mandates minimum notice periods for employment termination, based on the employee's length of service
  • Termination in South Korea | Labour Law Updates | Links International
    In South Korea, terminating an employee involves following a strict legal process to ensure compliance with labour laws Companies must adhere to guidelines around notice periods, severance pay, and fair treatment, making it essential for employers to be well-versed in the regulations governing termination of employment
  • Kang Nam Labor Law Firm
    When rehiring a retired employee, the company shall pay severance pay to the employee with a service period of at least one year after re-employment Even though both parties agree there will be no severance pay, this agreement violates a compulsory law and becomes null and void MOEL Guidelines: Kungi 68207-584 1999 03 12
  • Can you claim severance pay from a Non-Korean Employer?
    Under Korean law, every retiring, terminated or resigning employee is entitled to severance pay, except an employee whose continuous service period is less than one year and an employee whose average weekly working hours over a four-week period is less than 15 hours





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