Korea Severance Pay Calculator (Legal Minimum)
Calculate statutory severance pay in Korea from the average wage of the last three months.
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How to do it
- 1Step 1: Open Korea Severance Pay Calculator (Legal Minimum) and add your input
Type your numbers or text, add your file, or pick the options you need. Nothing is uploaded: everything stays in your browser.
- 2Step 2: What Korea Severance Pay Calculator (Legal Minimum) does
Calculate statutory severance pay in Korea from the average wage of the last three months.
- 3Step 3: Read the result and compare
The result appears at once. Change one value to see how the answer moves, then keep the figure that fits your case.
- 4Step 4: Copy or save it
Copy the result or download it. For an important decision, confirm it with the official source or an adviser.
About this tool
Enter your wages for the last three months, your annual bonus and unused leave pay, the number of days in those three months and your total days of service. The calculator works out the average daily wage and the legal severance pay.
The rule
Severance pay is at least 30 days of average wages for each year of service, for workers who have worked at least one year and 15 hours or more a week.
Average daily wage
The average wage is the total wages paid in the three months before leaving, plus one quarter of the annual bonuses and annual leave allowance paid in the last year, divided by the number of calendar days in those three months. The tool uses these parts.
Result
Severance pay = average daily wage × 30 × (days of service ÷ 365). Employers who run a retirement pension plan pay in other ways, but the legal minimum is the same. Payment is due within 14 days of the end of employment.
Worked example
Wages of ₩9,000,000 over the last 92 days, an annual bonus of ₩3,000,000 and leave pay of ₩600,000 give an average daily wage of ₩107,609. With 1,825 days (5 years) of service the legal severance pay is about ₩16,141,304.
Tips for best results
Check every box before you rely on a result, because one wrong digit changes the whole answer. Use the exact figures from your payslip, bill, certificate or contract, and keep a note of the date you calculated. Rates, thresholds and rules change from time to time, so for tax, fees and legal matters treat the output as an estimate and confirm with the official source named on this page. You can run as many scenarios as you like; nothing is saved or sent, and refreshing the page clears the boxes.
Quick facts
- Category: UK & US
- Works in your browser, no sign-up, no upload.
- Your input stays on your device.
- Available in English.
- Content last reviewed:
Frequently asked questions
Who is entitled?
Employees with at least one year of service who work at least 15 hours a week.
Which days count in the three months?
All calendar days, including weekends and holidays.
Is it taxed?
Yes, retirement income tax applies with special deductions.
What about a retirement pension?
The legal minimum is the same; the employer may fund it through a pension plan.