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Table of Contents
Key Country Facts
South Korea, officially known as the Republic of Korea, is a country located in East Asia. It is bordered by North Korea to the north, the Yellow Sea to the west, the Sea of Japan to the east, and the Korea Strait to the south. With a population of over 51 million, South Korea is the 27th most populous country in the world. It has a highly developed economy and is considered one of the Four Asian Tigers, along with Taiwan, Hong Kong, and Singapore.
Area
South Korea has an area of 100,210 square kilometers, making it the 109th largest country in the world. It has a varied landscape that includes mountains, forests, and coastlines.
Climate
South Korea has a temperate climate with four distinct seasons. The summers are hot and humid, while the winters are cold and dry. Spring and fall are considered the best seasons to visit, with mild temperatures and beautiful foliage.
Culture
South Korean culture is heavily influenced by Confucianism, which emphasizes respect for elders, education, and family values. It is also heavily influenced by pop culture, including K-pop music, Korean dramas, and Korean cuisine. South Korea is known for its traditional arts, such as dance, music, and pottery.
Religion
South Korea has a diverse religious landscape. About 56% of the population identifies as non-religious or follows traditional Korean beliefs. Christianity is the largest religion, with about 27% of the population identifying as Protestant or Catholic. Buddhism is also prevalent, with about 15% of the population identifying as Buddhist.
Official Language
The official language of South Korea is Korean. The Korean language has its own unique alphabet, called Hangul, which was created in the 15th century. Many South Koreans also speak English, especially in urban areas and in the business world.
Payroll Information
Payroll Cycle
In South Korea, the standard payroll cycle is monthly. Employers are required to pay employees their wages at least once a month, typically on the 25th day of the following month. It is common for employers to pay their employees on a biweekly or weekly basis as well.
Employment Law
South Korea has a comprehensive set of employment laws that protect the rights of employees. Some key provisions of employment law include:
- Minimum Wage: The minimum wage in South Korea is set by the government and is currently KRW 9,160 per hour.
- Working Hours: The standard working week in South Korea is 40 hours, with a maximum of 12 hours per day. Overtime pay is required for any hours worked over 40 hours per week or 8 hours per day.
- Annual Leave: Employees are entitled to a minimum of 15 days of paid annual leave per year.
- Severance Pay: Employers are required to provide severance pay to employees who have worked for them for more than 1 year. The amount of severance pay is calculated based on the employee's length of service and average wage over the past 3 months.
Employment Contract
In South Korea, employment contracts are required for all employees. The contract must include the following information:
- Name and address of the employer and employee
- Job title and duties
- Salary and benefits
- Working hours and vacation time
- Probationary period, if applicable
- Termination conditions
Employment contracts can be fixed-term or indefinite. Fixed-term contracts are common for project-based work or seasonal employment. Indefinite contracts are more common for regular employees. Employers are required to give employees notice of termination, which varies depending on the length of service. For example, employees who have worked for the employer for less than one year require 30 days' notice, while those who have worked for more than 3 years require 90 days' notice.
Probation Period / Trial Period
Employers in South Korea may choose to include a probationary period in an employee's contract. The probation period typically lasts for up to 3 months and allows employers to assess an employee's performance and suitability for the role. During the probation period, either the employer or the employee can terminate the contract without notice.
Working Hours
The standard working week in South Korea is 40 hours, with a maximum of 12 hours per day. Employers are required to provide employees with a minimum of 1 day off per week. Employees who work more than 8 hours per day are entitled to a 30-minute break.
Overtime
Overtime work is defined as any work that exceeds 40 hours per week or 8 hours per day. Employers are required to pay employees at a rate of 150% of their regular hourly wage for the first 2 hours of overtime and 200% for any hours worked beyond that. However, certain industries, such as healthcare and transportation, have different overtime pay rates.
Bonus
Employers in South Korea may choose to provide their employees with bonuses as a form of incentive or reward. Bonuses are typically given on a discretionary basis and may be tied to individual or company performance. Bonuses are subject to income tax and social security contributions.
Termination
Employers and employees in South Korea have the right to terminate an employment contract. Employers are required to give employees notice of termination, which varies depending on the length of service. For example, employees who have worked for the employer for less than 1 year require 30 days' notice, while those who have worked for more than 3 years require 90 days' notice. Employees can terminate their contract without notice if the employer breaches the terms of the contract.
Notice Period
Notice periods are required for terminating an employment contract in South Korea. The length of the notice period varies depending on the length of service and the reason for termination. Employers are required to give employees written notice of termination, which must include the reason for termination and the effective date.
Redundancy / Severance Pay
In South Korea, employers can terminate employment contracts for reasons of redundancy or business necessity. Employers must provide employees with written notice of termination and severance pay, which is calculated based on the employee's length of service and average wage over the past 3 months. Employers are required to consult with employees and labor unions before making decisions on redundancy.
Maternity Leaves
Female employees in South Korea are entitled to 90 days of paid maternity leave. The leave can be taken up to 6 weeks before the expected due date and up to 12 weeks after the birth of the child. The employee must provide medical certification of pregnancy and childbirth to the employer.
Paternity Leaves
Male employees in South Korea are entitled to 10 days of paid paternity leave. The leave can be taken within the first 6 months after the birth of the child. The employee must provide medical certification of the birth of the child to the employer.
Parental Leaves
In addition to maternity and paternity leave, employees in South Korea are entitled to parental leave. Employees can take up to one year of unpaid parental leave to care for their child. The leave can be taken until the child reaches the age of eight. Employees must provide notice of their intention to take parental leave at least 30 days in advance.
Vacation and Annual Leaves
Employees in South Korea are entitled to a minimum of 15 days of paid annual leave per year. The amount of annual leave increases with length of service. For example, employees with five years of service are entitled to 20 days of paid annual leave.
Sick Leaves
Employees in South Korea are entitled to paid sick leave for up to 90 days per year. Employers may require employees to provide medical certification for sick leave that exceeds 3 consecutive days.
Other Leaves
South Korea also has other types of leave available to employees, including:
- Bereavement Leave: Employees are entitled to up to 3 days of paid bereavement leave for the death of a family member.
- Marriage Leave: Employees are entitled to up to 3 days of paid leave for their marriage or the marriage of their child.
- Special Leave: Employees may be granted special leave for personal reasons or other unforeseen circumstances. The length of the leave and whether it is paid or unpaid is at the discretion of the employer.
Other Benefits
Employers in South Korea may choose to provide their employees with additional benefits, such as health insurance, retirement benefits, and housing allowances. Employers are required to provide their employees with health insurance and pension benefits, and may offer additional benefits to attract and retain employees.
Holidays
There are 16 public holidays in South Korea, including New Year's Day, Lunar New Year's Day, Independence Movement Day, Labor Day, and Christmas Day. Employers are required to give employees the day off on public holidays or provide additional compensation if the employee must work on a public holiday.
Taxation
Personal Income Tax
South Korea has a progressive tax system for personal income tax, with tax rates ranging from 6% to 42%. The tax rates and income brackets are as follows:
- Income up to 12 million KRW: 6%
- Income between 12 million KRW and 46 million KRW: 15%
- Income between 46 million KRW and 88 million KRW: 24%
- Income between 88 million KRW and 150 million KRW: 35%
- Income over 150 million KRW: 42%
Residents of South Korea are subject to personal income tax on their worldwide income. Non-residents are subject to personal income tax on income earned in South Korea.
Social Security
Employers and employees in South Korea are required to contribute to social security programs, which provide benefits such as health insurance, pension, and unemployment insurance. The contribution rates are as follows:
- Health Insurance: Employers and employees each contribute 3.06% of the employee's monthly salary, up to a maximum of 783,000 KRW per month.
- National Pension: Employers and employees each contribute 4.5% of the employee's monthly salary, up to a maximum of 7,890,000 KRW per month.
- Employment Insurance: Employers and employees each contribute 0.8% of the employee's monthly salary, up to a maximum of 487,500 KRW per month.
Other
In addition to the above social security programs, employers may also be required to contribute to industrial accident compensation insurance and national health insurance for their employees.
Visas and Foreign Worker
General Information
Types of Work Visas
There are several types of work visas available in South Korea, depending on the purpose of the individual's employment. The most common types of work visas include:
- E-1: Professor or foreign language instructor
- E-2: English language teacher
- E-3: Researcher
- E-4: Professional employment (such as engineer, accountant, or attorney)
- E-5: Specialty occupation employment (such as IT specialist or technical expert)
- E-7: Non-professional employment (such as factory worker or caregiver)
Requirements
To obtain a work visa in South Korea, individuals must meet certain requirements. These requirements may vary depending on the type of work visa being applied for, but generally include:
- A valid passport
- A job offer from a South Korean employer
- A certificate of employment from the employer
- A certificate of education or qualifications related to the job
- A criminal record check
- A health examination
In addition to the above requirements, some work visas may also require additional documents or qualifications, such as language proficiency or specific work experience.
Application Process
The application process for a work visa in South Korea typically involves the following steps:
- Obtain a job offer from a South Korean employer.
- Gather the necessary documents and certificates.
- Apply for a Certificate of Confirmation for Visa Issuance (CCVI) from the South Korean embassy or consulate in the individual's home country.
- Once the CCVI is issued, submit a visa application to the embassy or consulate.
- Upon arrival in South Korea, apply for a Alien Registration Card (ARC) at a local immigration office.
Processing times for work visas may vary depending on individual circumstances and the type of visa being applied for. It's recommended that individuals allow plenty of time for the visa application process, as it can take several weeks or even months to complete.
Renewal
Work visas in South Korea are typically valid for up to one year, and can be renewed annually as long as the individual continues to meet the requirements for the visa. To renew a work visa, individuals must submit a new visa application and provide updated documentation as necessary.
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