The amount is usually based on the length of employment and the average salary of the employee. It is a statutory requirement to provide financial support during the transition period of unemployment.

Practical Example of Severance Pay:

An employee at a tech company in Seoul, after working there for five years, receives severance pay equivalent to one month's salary for each year of service upon resignation.

Ready to become a true global employer? Talk to our team about global payroll services today.