A. Settlement Allowance - 300,000 KRW (one-time payment)
All EPIK GETs, regardless of level, will be provided with a settlement allowance of 300,000 KRW in the first month of their first contract.
B. Free Furnished Housing Provided - Single studio-type housing
Free furnished housing or a rent subsidy will be provided by the host POE.
A leased house/apartment/studio-type room as well as basic household goods will be provided by the host POE. Basic household goods include: a bed, a table and chairs, a wardrobe, a gas stove, a refrigerator, a washing machine, a microwave oven, and a TV set.
Utilities are not provided for and are the responsibility of the EPIK GET.
Due to variations in housing costs in different regions of Korea, the size and location of the supplied housing can vary from POE to POE.
If housing is unavailable, a monthly rent subsidy of 300,000 KRW will be provided in lieu of free f furnished housing.
C. Severance Pay - Equal to approximately one month's salary/year
All EPIK GETs, regardless of level, who successfully complete a one-year contract will be entitled to receive severance pay. Severance pay is equal to approximately one month's salary.
D. Airfare Reimbursement - One-way to Korea and One-way from Korea
During the 10-day orientation, all EPIK GETs, regardless of level, will be provided with reimbursement for the cost of direct, one-way, economy-class airfare from their place of permanent residence to Korea.
Reimbursement for return travel to their place of permanent residence is provided by way of a lump-sum payment upon successful completion of the contract.
Before the end of the 10-day orientation, the cost of airfare from your place of permanent residence to Korea will be reimbursed by the EPIK office. To be eligible for an airfare reimbursement during orientation, the following items must be submitted: the passenger's copy of your original flight ticket, the original purchase receipt from your travel agent or provider, and your original boarding pass(es).
To prevent early termination of contracts, incoming airfare reimbursement is issued in the form of a loan from the employer to the EPIK GET.
KRW 1,300,000 will be paid to all candiates for airfaire regardless where they flight from and even applicants who is currently in South Korea
In the event that the contract is terminated with six (6) months of its implementation, including renewal contracts, regardless of course or grounds, the EPIK GET will repay the above-mentioned loan to the EPIK office immediately
E. Tax Exemption - 2 years of income tax exemption (except Canadians)
With the exception of Canadians, all EPIK GETs, regardless of GET level, are exempt from paying Korean Income tax for the first two years of their employment in Korea.
To be eligible for this tax exemption, you must submit official proof of residency in the form of Residency Certification from the relevant jurisdictional tax office of your country of permanent residence. This document must be submitted to the supervisor of your POE within one month of your arrival in Korea.
If you have previously worked for more than two years in Korea, you are ineligible for this income tax exemption.
Income tax exemption can be an exceptional benefit since, for example, in the USA, single persons with no dependents may need to pay one-third of their income as tax.
As there is no tax treaty between Canada and Korea, Canadian EPIK GETs will be taxed between 2 and 4 percent on their Korean income depending on their EPIK GET level.
F. Compulsory Medical Insurance - 50% of your premiums paid by your employer
Pursuant to the National Medical Insurance Act, 50% of your medical insurance premiums will be paid by your host POE. Current medical insurance premiums total approximately 4.31% of your salary and are payable monthly. Half of this amount, about 2.1%, will be paid by your host POE, with the remaining amount being deducted from your monthly salary. This medical insurance will allow you to receive medical attention and prescription medicines at a fraction of their original cost. In the event that EPIK GETs have dependents living with them in Korea, their host POE will continue to pay 50% of their medical insurance premiums for both the GET and his/her dependents.
G.National Pension Scheme - 50% of your compulsory contributions paid by your employer
(1) National Pension Scheme
Pursuant to the Korean National Pension Corporation Act, 50% of your compulsory pension contributions will be paid by your host POE.
Current compulsory pension contributions total approximately 9% of your salary and are payable monthly. Half of this amount, about 4.5%, will be paid by your host POE, with the remaining amount being deducted from your monthly salary.
(2) National Pension Scheme Refunds
At present, only EPIK GETs holding American or Canadian citizenship are eligible for a lump-sum pension refund upon successfully completing their contract and departing Korea. Information and documentation to apply for this refund can be found on the Korean National Pension Service website.
EPIK GETs from countries other than the USA and Canada are only entitled to receive pension benefits in the case of retirement or tragedy. More information about pension benefits and refunds can be found on the Korean National Pension Service.
H. 10-day EPIK Orientation - An excellent transition and networking opportunity
All EPIK GETs, regardless of level, will receive orientation and training related to living and teaching in Korea by way of a 10-day orientation program. During this orientation, EPIK GETs will be exposed to various subject areas and activities.
The 10-day orientation is conducted by the Center for In-service Education at the orientation place prior to your ontract start date.
The orientation period is not included in the term of employment and as such is unpaid.
Orientation is mandatory for all EPIK GETs. If you are not present at orientation, you will not be eligible for employment.
Transportation from Incheon International Airport to the orientation site at the orientation place will be provided free of charge.
Upon the successful completion of orientation, transportation from the orientation site at the orientation place to each EPIK GETs respective POE will be provided free of charge.
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