Labor regulations

The standard Korean labor contract (표준근로계약서)

Contract guidelines defined by the Ministry of Employment and Labor (고용노동부).

1. Mandatory legal elements & minimum wage

Every contract with a foreign employee must list these to remain legally valid:

  • Specific scope of duties and workplace address.
  • 2026 Korea minimum wage: wages must exceed KRW 10,320/hour, or KRW 2,156,880/month based on the 209-hour baseline (effective Jan 1, 2026).
  • Weekly schedule, break windows, and statutory holiday rest.

2. Severance pay (퇴직금) entitlements

Foreign workers hold the same legal rights as Korean nationals:

  • Eligibility: 1+ continuous year with average weekly hours over 15.
  • Calculation: 30 days of average wage per year of service. Average wage includes overtime, allowances and incentives over the last 3 months, not just base pay (기본급). Payable within 14 days of the last day.
Source: Ministry of Employment and Labor (고용노동부) Minimum Wage Council korea.net

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