Korean Tax Blog

Introduction to Retirement Allowance in Korea What is Retirement Allowance? Hey there! Are you curious about retirement allowance in...

In a significant ruling, the Supreme Court (case numbers 2018다21821 and 2018다25502) clarified the legal position on waiving the right to...

According to the Korean standard labor law, all of employer should pay the Retirement allowance(=severance payment, retirement fund) to...

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...

Up until the end of 2012, some employers with fewer than 5 employees were able to pay just 50% of the standard severance payment....

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...

Any countries has these kind of compulsory liabilities to the people and entities, but it’s a bit different rate and various kinds...

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...