Would you like to see how much you can take home at the end of your contract?
| Items | Amount (1 USD = 1000 KRW) |
| Average Salary | +USD 2,100 |
| Tax | -USD 150 |
| Housing Rent | -USD 0 |
| Housing Utilities | -USD 100 |
| Food | -USD 300 |
| Transportation | -USD 100 |
| Parties & Shopping | -USD 400 |
| Total Remaining | +USD 1,050 |
If you successfully complete a 12 month contract, you will also receive.
- Severance pay equivalent to one month’s salary : USD 2,100
- National pension reimbursement : Approximately USD 2,300 or more
If you live an ordinary life while in Korea, you can end up saving approximately 17,000 USD in ONE YEAR!
- Tip!
- Korean income tax rate is only 3.3%.
National pension reimbursement is only applicable to American and Canadian citizens.
If you are still wondering about the ordinary living cost in Korea, check this out.
| Items | Price |
| McDonald's Big Mac Combo | USD 5 |
| Coke (1 can) | USD .70 |
| Bottled water | USD 1 (1.5 liter) |
| Beer (Miller) | USD 3 |
| Marlboro (1 pack) | USD 2.5 |
| Subway | USD 1 + |
| Taxi | USD 2 (Base fare) |
Savings Plan
Income tax and pension reimbursements are all different, reference the tables below depending on your nationality.
USA
Taxes - Example : USD 2,100/Monthly
| Items | Amount | Deduction |
| Pension | USD 95 | 4.5% of your salary |
| Medical Insurance | USD 50 | 2.4% of your salary |
| Income Tax | None | |
| Total | USD 145 |
* Income tax will be exempted for the first two years.
Reimbursement of Pension
As for the deduction of pension above, once you leave Korea the national pension office will give you back what you and the school have paid.
Example: USD 2,100/Monthly
| Items | Amount | Deduction |
| Teacher's Contribution | USD 1,140 | 4.5% of your salary |
| School's Contribution | USD 1,140 | 4.5% of your salary |
| Total Reimbursed Pension | USD 2,280 |
Canada
Taxes - Example : USD 2,100/Monthly
| Items | Amount | Deduction |
| Pension | USD 95 | 4.5% of your salary |
| Medical Insurance | USD 50 | 2.4% of your salary |
| Income Tax | USD 70 | None for American |
| Total | USD 215 |
* Income tax will be exempted for the first two years.
Reimbursement of Pension
As for the deduction of pension above, once you leave Korea the national pension office will give you back what you and the school have paid.
Example: USD 2,100/Monthly
| Items | Amount | Deduction |
| Teacher's Contribution | USD 1,140 | 4.5% of your salary |
| School's Contribution | USD 1,140 | 4.5% of your salary |
| Total Reimbursed Pension | USD 2,280 |
ENG/AUS/NZ/SF
Taxes - Example : USD 2,100/Monthly
| Items | Amount | Deduction |
| Pension | USD 95 | 4.5% of your salary |
| Medical Insurance | USD 50 | 2.4% of your salary |
| Income Tax | None | |
| Total | USD 145 |