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Employment Contracts | |
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Expenses and Saving
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In Korea most salaries are paid monthly. Your first month in Korea may be a little 'tight' financially but when you receive reimbursement for your air ticket costs you should be able to survive OK. The average basic living costs should be approximately $500 US for the first 4-6 weeks. In general, the capacity to save money is very high with your average costs being about 25-30% of your income, for daily living, eating, utilities and transport! Only hours over your base contract hours are considered overtime.In public school jobs the base working hours are usually 22 classroom hours and the clarification that you must be on site for 40 hours a week. Any additional teaching hours are normally considered for overtime payment. BUT the overtime rate is the same hourly rate as ordinary pay. The Korean working week is 40 hours and the law states it is only time and a half after 40 hours a week. In teaching contracts this is defined as after 40 hours a week you will get overtime. In reality very little overtime is ever available as the staffing is well timetabled. Prep time and planning is non-paid and so is down time between classes such as 10 minute breaks. All contracts include a fully paid one-way economy ticket for your travel to Korea from the nearest international airport to your home. The majority of contract include the return price being reimbursed to you upon the completion of your 12-month contract, although some do not provide your return airfare. The Korean law states that a severance bonus of 1 month extra pay must be paid at the end of your 12-month contract. This is in effect is like getting one months extra pay plus your final months pay when you leave Korea. At this time you should also be given a free air ticket to depart from Korea to where you were hired. For those intending to do some more international travel, this is certainly an added bonus. Even though the cost of living in Korea is much lower than in Japan, housing is still the biggest cost. But teacher's housing is included in the contract, general utility charges such as electricity and phone are your only costs). Transport by subway, taxi or bus is very cheap. Seoul has one of the most modern and largest underground subway systems in the world with the average cost of travel right across Seoul about $1.70US. Extensive and inexpensive rail, air and road services mean that any travel around Korea is cheap and easy. The average time to travel from the northern border to the southern coast is about 5 hours by car. Generally the train and express bus systems are extremely reliable, regular, cheap and comfortable.
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