|Tuesday||Jan-01||New Year's Day|
|Tuesday||Feb-05||Korean New Year||Usually in early February; three-day consecutive holidays|
|Wednesday||Feb-06||Korean New Year Holiday||Usually in early February; three-day consecutive holidays|
|Thursday||Feb-07||Korean New Year Holiday||Usually in early February; three-day consecutive holidays|
|Friday||Feb-08||Korean New Year Holiday||Substitute day for Seollal|
|Friday||Mar-01||March 1st Movement|
|Monday||May-13||Buddhas Birthday||Usually in late May|
|Wednesday||Jul-17||Constitution Day||Celebrates the declaration of the Constitution in 1948|
|Thursday||Sep-12||Harvest Festival Holiday||Day before Chuseok|
|Saturday||Sep-14||Harvest Festival Holiday||Day after Chuseok|
|Thursday||Oct-03||National Foundation Day||Commemorates the traditional founding of Korea by Tangun in 2333 BC|
|Wednesday||Oct-09||Hangeul Day||Korean alphabet day. Reinstated as a holiday in 2013|
Public holidays in South Korea are commonly known as 'Red Days' as this is how they are usually coloured in printed calendars.
Until the middle of 2014, Holidays are observed on their calendar date. If the date of a holiday falls on a Saturday or Sunday, then the holiday will not be moved to a weekday.
The Korean government has announced that from the second half of 2014 onwards, if the date of Seollal, Chuseok, or Children's Day falls on Sunday, then the holiday will be extended to Monday.
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Starting at $50 Per Month
Minimum wage is 6030KRW/hour.
The employer contributes 4.5%.
The employee contributes 4.5% with monthly salary ceiling of KRW4.08 million.
To calculate severance payments, the employer must multiply the consecutive years the employee worked by average monthly wages.
Advance notice is one month.
Employer must provide 30 days notice or a payment in lieu of the notice.
No official sick day regulations. Unless the injury occurred at work.
There are 10 public holidays.
Employee working in the company for one year is entitled 15 days of paid vacation, if they have been in the company for over three years, they get one additional day for every two years. They can receive up to 25 days of maximum paid leave.
1) Health Insurance/Long Term Care Insurance
2) Unemployment Insurance
1) The employer contributes 3.23% for health insurance and 3.2% for long term care insurance.
2) The employer contributes 0.65% plus between 0.25% to 0.85% for job security and vocational capability insurance.
1) The employees contribute 3.23% for health insurance and 3.2% for long term care insurance.
2) The employees contribute 0.65%.
Companies in South Korea offer expats benefits such as base salary based on their home country, cost of living allowance, mobility premium for the expat and his/her family, hardship premium goods and services differential and housing assistance. The benefit packages differ from company to company.
VAT is 10% standard rate.
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