South KoreaMediumWages & AllowancesContracts & Employment
Severance pay reform — sample reference
- Published:
- January 20, 2025
- Effective:
- March 1, 2025
- Editor verified:
- April 6, 2026
Summary
Illustrative entry for Korea's severance pay system. Link to MOEL official resources.
Issuing Authority
Ministry of Employment and Labor
Impact Level
Medium
Main Impact
Payroll liabilities; severance trust management; retirement benefit accounting.
Recommended Corporate Response
Review severance trust funding; update payroll systems; communicate changes to finance.
View Official Source
https://www.moel.go.kr/eng/policy/policyinfo.do