Korea Severance Pay Calculator 2026 (Toejikgeum)
Calculate severance pay (toejikgeum) in Korea: 30 days of average wage for each year of service, from the pay of the last 3 months, bonuses and leave pay.
Severance is due after at least one year at 15 hours a week or more, within 14 days of leaving. Retirement income tax is withheld separately and is not included here.
What it does
Under the Employee Retirement Benefit Security Act, an employee who has worked at least one year receives severance of 30 days' average wage for each year of service. The average daily wage is the pay of the 3 calendar months before leaving divided by the days in them, with 3/12 of the bonuses and annual-leave pay of the last 12 months added.
How to use it
- Choose the start date and the last day of work.
- Type the pay of the last 3 months and, if any, the bonuses and leave pay of the last year.
- Read the average daily wage and the severance pay.
The arithmetic runs in your browser. Nothing you type is sent anywhere and nothing is stored, so you can use these with real numbers.
Frequently asked questions
How much severance after 5 years on 3 million won?
9,000,000 won in the last 3 months ÷ 92 days = 97,826.09 a day. × 30 days × 1,826 days of service ÷ 365 = 14,681,954 won, about one month's pay per year.
Do bonuses count?
Yes: bonuses paid in the last 12 months are added as 3/12. With 3 million won of bonuses the same example rises to 15,905,450 won.
Who is entitled to severance pay?
Any employee with at least one year of continuous service and an average of 15 hours a week or more, whatever the reason for leaving, including resignation.
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