🏢 Severance Pay Calculator
Estimate your severance pay from your start date, end date, and last 3 months of pay
Enter Employment Details
Estimated Severance Pay
18,024,387 KRW
Days of Service
1,663 days
Average Daily Wage
131,868 KRW
Severance Pay Formula
Severance pay = average daily wage × 30 days × (days of service ÷ 365). Average daily wage is calculated by dividing total wages paid over the 3 months before your last day by the number of calendar days in that period. Under Korea's Labor Standards Act, only employees with 1 year or more of continuous service are entitled to severance pay.
Example
Started January 1, 2022 and left January 1, 2026 (1,461 days of service), with 12,000,000 KRW total pay over the last 3 months: average daily wage is about 130,435 KRW, and estimated severance pay is about 15,662,895 KRW.
Frequently Asked Questions
Q. Do I get severance pay with less than 1 year of service?
A. No. Under the Labor Standards Act, employees with less than 1 year of continuous service are not entitled to severance pay.
Q. Are bonuses or unused annual leave pay included in average wage?
A. Yes, prorated bonuses and annual leave allowance paid during the last 3 months can be included in the average wage calculation, so your actual amount may be higher than this calculator's estimate.
Q. Can I also receive unemployment benefits along with severance pay?
A. Severance pay compensates for your service, while unemployment benefits are a separate program requiring employment insurance enrollment history and involuntary separation, among other conditions — the two are paid independently of each other.