Severance Pay Calculator
About this tool
Uses the formula from Korea's Employee Retirement Benefit Security Act: average daily wage × 30 × days employed ÷ 365. The average daily wage is total wages for the last 3 months divided by the number of days in those months (89–92); annual bonuses and leave pay add 3/12 of the yearly amount.
Employed from 1 Jan 2020 to 31 Dec 2025 with 9,000,000 won in the last 3 months: 2,192 days employed, 92 days in the period, an average daily wage of 97,826 won and severance of about 17,624,776 won.
The retirement date is the day after the last working day, and under one year (365 days) of service there is no statutory severance. Results are before tax.
FAQ
Who is eligible?
Workers employed at least one year at the same employer, averaging 15+ hours a week.
What counts as 3-month wages?
Total gross wages including regular monthly allowances. Bonuses and leave pay are entered separately and 3/12 of the yearly amount is added.
Is tax deducted?
No. The result is before retirement income tax.