Severance Allowance
According to the Korean standard labor law, all of employer should pay the Retirement allowance(=severance payment, retirement fund) to...
Housing Allowance
Is Housing allowance taxable income? Even if an employer didn't pay it added on a monthly salary? If your employer pay it added on your...
Severance Payment Allowance
Up until the end of 2012, some employers with fewer than 5 employees were able to pay just 50% of the standard severance payment....
Non-taxable Income
When you hire a full-time staff member in Korea, be they a “contract” employee (계약직) or a “regular” employee (정규직), you have to provide...
5 Liabilities in Korea for a Corporation
Any countries has these kind of compulsory liabilities to the people and entities, but it’s a bit different rate and various kinds...
Minimum Wage
In January 2014, the minimum wage was raised from W4,869 to W5,210 per hour. In 2015, it became 5,580 and, as I write this in 2016, the...
