Compliantly hire your distributed team members in
South Korea
To hire new employees in
South Korea
, your business must have a local legal entity or an Employer of Record like Borderless in place already. Then there’s the management of local employment compliance, taxes, benefits, payroll, and more. Hiring contractors poses similar challenges.
Borderless handles all of that for you, so you can focus on getting to work with your new team member in
South Korea
while staying fully compliant with local laws and compliance.
Korean
South Korean won (₩, KRW)
Monthly
12 DAYS
10.18% ~
81.20 (2021)
15 days
None
90 days
In many countries like
South Korea
, the treatment of employees and contractors is different. If you misclassify a new team member, you could be subjected to penalties and fines. Let Borderless get this right for you, so you don’t have to worry.
WON 9,160 per hour or WON 1,914,440 per month.
Standard working hours are 8 hours per day and 40 hours per week. Overtime payment is mandatory and it caps at 12 hours per week. Overtime wage is minimum of 150% of the employee's base salary.
All employee payments are paid out on a monthly basis. Paydays are either on the 25th or the last day of the month.
A just cause must be established for termination. For example, fraud and work-related offences.
The minimum notice period is 30 days.
The typical probation period in South Korea is 3 months.
Only employees who have been employed for at least a year are eligible for severance pay equal to a month's salary for every year of employment.
When the world is your competition, it pays to incentivize new hires and existing alike. Borderless benefits packages typically include:
Book your demo of Borderless to help you hire, pay, and take care of new employees and contractors in 170+ countries.
