South Korea Employer of Record
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Employer of record in South Korea
Hiring in South Korea
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Employment contracts in South Korea
- The minimum wage is decided annually by the labor minister in consultation with the Minimum Wage Council. Effective January 2024 to December 31, 2024, the hourly minimum wage will be 9,860 won.
- Employees who perform night work, e.g., between 10 p.m. and 6 a.m., must be paid time and a half of their regular wages unless workers’ representatives agree to compensatory time off instead.
- Workers get paid time and a half for overtime work of less than eight hours, or 200% if eight hours of work are exceeded.
- Collective agreements may regulate the minimum wage or legal salary range.
- When employees are hired on a daily basis for less than three months
- When employees are hired for a fixed period of two months or less
- When workers are employed on a monthly basis for less than six months
- When seasonal employees are contracted for six months or less
- When probationary employees are employed for less than three months
- When workers cause considerable harm to the business or intentionally damage workplace property
- When it is impossible to continue the business because of extraordinary circumstances such as natural disasters, armed conflict, or bankruptcy
Employee benefits and paid leave in South Korea
- In the first year of employment: 11 days’ paid leave
- Employees who have worked for their employer for at least one year: 15 days
- Employees with at least three years of employment: 15 days plus one additional day for every two years of service
- Employees who work less than 80% of the annual workdays (not counting days off due to occupational injuries, illness, or maternity leave): one day for every full month of attendance
Employee onboarding with an employer of record in South Korea
- Schedule a welcome call to discuss HR and employment information for South Korea, as well as answer any questions
- Prepare a customized employment contract in English and Korean (or other local language)
- Share the employment contract and benefits information with the new employee for signature and review
- Gather tax and banking information from the employee to set up payroll
- Provide a local point of contact to the employee to answer any questions regarding their employment, local HR or payroll
Partner with Safeguard Global as your employer of record and PEO in South Korea
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