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You got the offer. Now what?
After all those applications and interviews, the offer email finally arrived. Congratulations, you earned it.
Next comes the employment contract. It's often written in Korean, and it's full of words you may have heard but never fully understood.
You don't need to be a legal expert to read it. You just need to know a few basic words. Here are the six that show up in almost every Korean job offer.
Money words
1. 연봉 (yeonbong): annual salary
연봉 is your yearly salary. In Korea, this number is almost always before tax (세전).
So when a company offers you "연봉 4,000만 원," that's ₩40 million a year before anything is taken out. It's not the amount you'll see in your bank account.
2. 실수령액 (silsuryeongaek): take-home pay
실수령액 is the money that actually lands in your bank account each month. It's what's left after income tax and social insurance are taken out. You may also see it called after tax (세후).
This is where many people get surprised. ₩40 million divided by 12 is about ₩3.3 million. But your monthly take-home pay will be closer to ₩2.9 million.
Tip: Search "연봉 실수령액 계산기" (salary take-home calculator) to estimate it yourself.
Contract words
3. 정규직 vs 계약직 (jeonggyujik vs gyeyakjik): permanent vs fixed-term
These two words tell you how long your job lasts.
- 정규직 is a permanent position. There's no end date, so it's the more stable option.
- 계약직 is a fixed-term contract. It ends on a set date, like "until December 2027."
4. 수습기간 (suseup gigan): probation period
수습기간 is your first few months at a new company. It's a trial period for both you and the company, and almost every Korean company has one. You will receive lesser than your regular salary in that exact period.
Benefit words
5. 4대보험 (sadae boheom): the 4 major insurances
You'll hear people ask, "Does this job have 4대보험?" It's a quick way of asking whether a job is properly registered.
4대보험 means four types of insurance:
- Health insurance (건강보험): lowers your costs at hospitals, clinics, and pharmacies.
- National pension (국민연금): saves money for your retirement.
- Employment insurance (고용보험): helps if you lose your job.
- Work injury insurance (산재보험): covers you if you get hurt at work.
You and your company share the cost, and your part is taken out of your paycheck. That's one reason your take-home pay is lower than your salary.
6. 퇴직금 (toejikgeum): severance pay
퇴직금 is money you receive when you leave a company after working there for a certain period.
The basic rule is simple: work at the same company for at least 1 year, and you'll get about 1 month's pay for each year you worked. For example, if you earned ₩4 million a month and worked 3 years, you'd get roughly ₩12 million.
Before you sign
Now you know the basics. A few last things to keep in mind:
- Take your time. It's common to ask for a few days to read the contract before signing.
- Ask about anything you don't understand. Asking questions shows you're careful
- Keep a copy of your signed contract.
- Know where to get help. The Ministry of Employment and Labor call center (1350) offers support in multiple languages.
You worked hard for this offer. An hour spent on your contract now can save you a lot of stress later.
**This article is general information, not legal advice. Labor rules and insurance rates can change, so check the details for your situation with the Ministry of Employment and Labor or a licensed labor attorney (공인노무사).
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