Hannah got two offers from hagwons in Busan, both at ₩2.6 million a month. One included a studio apartment, the other a ₩400,000 housing allowance. The recruiter needed an answer by Friday.
The salaries looked identical. The contracts weren't.
Two offers with the same salary can differ by millions of won a year once you count housing, severance, insurance, overtime and flights. Here’s what to check, line by line, before you sign.
The checklist
- Monthly salary (월급) and pay day. Divide by 209 to get your hourly rate. It must be at least the minimum wage, ₩10,320 in 2026.
- Teaching hours vs working hours. “30 teaching hours” can mean 45 hours at school. Ask for the full schedule, including prep and office hours.
- Overtime rate. Extra classes should be paid at a stated per-class rate. At workplaces with 5+ employees, overtime beyond 40 hours a week is legally paid at 1.5×.
- Severance (퇴직금). After 12 months you’re owed about one month’s pay, paid separately. Walk away from contracts saying severance is “included in salary.” See our severance guide.
- The four insurances (4대보험). Pension, health, employment and accident insurance. Your employer pays half of pension and health. Ask whether you’ll be enrolled from day one.
- Pension refund. If your country is on the National Pension refund list, the pension money comes back to you when you leave, so it’s savings, not a loss. Check with the pension refund calculator.
- Housing (숙소). Furnished studio, or an allowance? Who pays the deposit (보증금), utilities and maintenance fees (관리비)?
- Flights. Entry flight paid upfront or reimbursed? Exit flight on completion?
- Leave and sick days. Annual leave is a legal right only at 5+ employee workplaces, so smaller schools must write it into the contract. Check how many paid sick days you get.
- Termination and notice. How much notice on each side, and what happens to flight and severance if either side ends early.
Comparing Hannah’s two offers
₩2.6M salary + free studio. Severance "included." 6 days vacation. Exit flight only after 12 months.
₩2.6M salary + ₩400,000 housing allowance. Severance paid separately. 11 days vacation. Both flights covered.
Offer B over 12 months: housing allowance ₩4,800,000 + severance about ₩2,600,000 more than A's "included" version.
Studio rent in a Busan officetel might cost ₩400,000–₩500,000 a month, so A's free studio closes most of the housing gap, but not the severance gap.
Net: Offer B is worth roughly ₩2–3 million more a year.
Ask for the contract in both Korean and English, and remember that the Korean version usually governs if they differ. Run unclear lines past the free foreign worker counselling line at 1644-0644.
Once you’ve signed, see what your salary really pays each month with the salary calculator.
Sources: Labor Standards Act art. 17, 50, 56, 60; Employee Retirement Benefit Security Act art. 8; Minimum Wage Act.
Try it with your own numbersKorea Salary Take-Home CalculatorEnter your annual salary to see what lands in your bank account each month, with every deduction explained.Written from the laws and official notices in force on the date above. Rules change and every case is different, so check with the office named in the article before an important decision. Spotted something out of date? Tell us.