Salary and Benefits
– Monthly Salary: 1.8 – 2.7 million Korean won
– Free Airfare: At the end of the first month of the contract, all public school teachers will be provided with 1,300,000 Korean Won of Entrance Allowance.
– Free Furnished Housing: Single studio-type housing. Free furnished housing will be provided by the host Provincial Office of Education (POE). Basic household goods include: a bed, a table and chairs, a wardrobe, a gas stove, a refrigerator, a washing machine, a microwave oven, and a TV set. Utilities and maintenance fees are the responsibility of teachers.
– Severance Pay: Equal to approximately one month’s salary. All public school teachers who successfully complete a one-year contract will be entitled to receive severance pay.
– Income Tax Exemption: All American public school teachers are eligible for an income tax exemption during their first two years of employment in Korea. In order to receive the income tax exemption you will need to bring and submit an official Residency Certificate to your respective school.
– Paid Vacation: Public schools give foreign teachers 22 paid vacation days a year.
– Settlement Allowance: 300,000 KRW (one-time payment). All public school teachers will be provided with a settlement allowance of 300,000 KRW within the first month of their first contract only.
– Compulsory Medical Insurance: 50% of your premiums paid by your employer. Pursuant to the National Medical Insurance Act, 50% of your medical insurance premiums will be paid by your host POE. Current medical insurance premiums total approximately 4.31% of your salary and are payable monthly. Half of this amount, about 2.1%, will be paid by your host POE, with the remaining amount being deducted from your monthly salary. This medical insurance will allow you to receive medical attention and prescription medicines at a fraction of their original cost. In the event that public school teachers have dependents living with them in Korea, their host POE will continue to pay 50% of their medical insurance premiums for both the teacher and his/her dependents.
– Compulsory National Pension: 50% of your deduction paid by your employer. Pursuant to the National Pension Corporation Act, 50% of your national pension plan deduction will be paid by your host POE. Current national pension plan deduction totals approximately 9% of your salary and is payable monthly. Half of this amount, about 4.5%, will be paid by your host POE, with the remaining amount being deducted from your monthly salary. American, Australian or Canadian Employees are eligible for a pension distribution refund if they submit the required documents to the Korean National Pension Corporation when they leave Korea after the completion of their Contract.
– Public School Orientation: An excellent transition and networking opportunity. All public school teachers will receive orientation and training related to living and teaching in Korea. During this orientation, teachers will be exposed to various subject areas and activities.
– The orientation is conducted at the orientation place prior to your contract start date. The orientation period (7-8 days) is not included in the term of employment and, as such, is unpaid.
– Orientation is mandatory for all public school teachers. If you are not present at the orientation, you will not be eligible for employment.
– Lodging and meals will be provided during the orientation free of charge.