Negotiating salary and benefits in South Korea

Last activity 31 October 2023 by Mitty Forresse

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BhavnaTeam09 October 2019 06:53:22

40135

Hello everyone,

Better job prospects in South Korea can most certainly be an incentive to leave your country of origin. Securing a contract with the right salary and benefits for you can be crucial to make your move successful.

Is salary and benefits negotiation regarded as common practice in South Korea? If yes, how should you go about negotiating your package (during the hiring process, on a monthly/yearly basis...)?

What do you expect to be included in terms of benefits in your package? Which benefits do you deem necessary in South Korea?

Is tax on the salary of an expat applicable in South Korea or do you have to turn to tax bodies in your country of origin to pay your taxes?

Do the exchange rates of currencies impact your salary as an expat?

Looking back, are there some changes you would have made during the negotiation of your salary and benefits package?

Thank you for sharing your experience,

Bhavna

RedTrumpetSerial expat20 January 2020 10:13:26

602

I worked in Seoul South Korea previously and landed by way of tourist visa, eventually converted into D-9 visa.

In Seoul, cost of accommodation for studio type is $1,500.00 per month. Cost of transport is low (subway trains) minimum fare is $10.00 short or long travel, cost of food per meal in restaurant is $15.00 (almost all food has chili). I heard the cost of living outside Seoul is lower.

Weather during winter season is cold, temperature is -15 degrees Celsius, other summer season is fair 34 degrees Celsius.

40% (approx.) tax for salaries in South Korea you need to look at this when planning to work and live in South Korea. There are also other form of taxes to be charged of individual income. These should be considered and evaluated once you received job offer from your prospect employer.

Mitty ForresseNew member31 October 2023 05:56:49

Hi trumpet, what is the difference between Seoul south Korea, and Seoul North Korea?

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