Average daily wage
Daily wage ≈ (monthly pay + annual bonus/12) / 30
Severance Pay Calculator
Employment Exit Strategy
Estimate your severance pay based on average wage and tenure.
* Actual payout may vary after income tax.
Korean severance pay is estimated from average wage and tenure
This calculator estimates severance pay from employment dates, average monthly pay, and annual bonus. It explains the basic Korean severance-pay structure, but actual payroll treatment may include allowances, unused leave, bonus rules, and retirement income tax.
Calculation rules
Tenure days
Tenure days = exit date - start date
Severance pay
Severance = daily wage × 30 × tenure days / 365
How to use
- Enter the start date and expected exit date.
- Enter average monthly pay and annual bonus.
- Review estimated severance, daily wage, and tenure days.
Frequently asked questions
Is this based on Korean rules?
Yes. It simplifies the Korean Labor Standards Act structure and is not the same as severance systems in other countries.
Does it apply below one year of service?
The tool calculates by dates, but statutory Korean severance generally requires eligibility such as at least one year of continuous service.
Is this after tax?
No. Retirement income tax and detailed wage-inclusion rules can change the actual payout.
This tool is for general calculation. Confirm official severance pay and tax figures with the relevant labor or tax authority.