Severance Pay Calculator - 퇴직금 계산기
Calculate Korean severance pay based on service period and average daily wage. Enter employment dates and recent salary to get instant results.
| 항목 (Item) | 값 (Value) |
|---|
※ 1일 평균임금 = 최근 3개월 총 급여 ÷ 해당 기간 일수 (보통 약 91일)
※ 1년 미만 근무 시 퇴직금 수급 자격이 없습니다.
※ Severance = (Daily avg wage × 30) × (Total service days ÷ 365). Minimum 1 year of service required.
What Is the Korean Severance Pay Calculator?
This severance pay calculator (퇴직금 계산기) computes your estimated retirement severance pay under Korean labor law. The formula is: (Daily Average Wage × 30 days) × (Total Service Days ÷ 365). Daily average wage is calculated from your total earnings in the last 3 months divided by the number of calendar days in that period. Employees with 1+ year of continuous service are entitled to severance pay.
How to Calculate Severance Pay
- Enter Start Date — Your first day of employment (입사일)
- Enter End Date — Your last day of employment (퇴사일)
- Enter Last 3 Months Salary — Monthly salary for each of the 3 months before resignation
- Add Bonus (Optional) — Include any bonus received in the last 3 months and annual bonus frequency
- Click Calculate — View your estimated severance pay with detailed breakdown
Why Use This Severance Calculator?
- Accurate Formula — Uses the official Korean labor law severance calculation formula
- Bonus Support — Includes proportional bonus calculation in average wage
- Clear Breakdown — Shows daily average wage, 30-day wage, and final severance amount
- Bilingual — Korean and English labels for international workers in Korea
- Privacy — All calculations in your browser, no server communication
Comparison with Other Severance Calculators
| Feature | FreeToolbox | MOEL (고용부) | Others |
|---|---|---|---|
| Bonus Calculation | Yes | Yes | Varies |
| Bilingual | Yes | Korean only | Korean only |
| Detailed Breakdown | Yes | Basic | Basic |
| No Sign-up | Yes | Yes | Varies |
| Mobile Friendly | Yes | Limited | Varies |
FAQ
Who is eligible for severance pay in Korea?
Any employee who has worked continuously for at least 1 year at a workplace with 1 or more employees is entitled to severance pay under the Korean Employee Retirement Benefit Security Act.
How is the daily average wage calculated?
Daily average wage = Total wages earned in the last 3 months (including proportional bonus) ÷ Number of calendar days in those 3 months (approximately 91 days).
Is severance pay taxed?
Yes, severance pay is subject to retirement income tax in Korea, but it receives favorable tax treatment with separate taxation and deductions based on years of service.
What if I worked less than 1 year?
Under Korean law, employees who have not completed 1 year of continuous service are not legally entitled to severance pay, though some employers may offer it voluntarily.
Does this include annual leave allowance?
This calculator focuses on basic salary and bonus. Unused annual leave pay should be added separately to the last 3 months wages for a more accurate calculation.