My final pay slip included my November paycheck, my apartment deposit (900,000 Won), my flight reimbursement (see below), and my 1-month bonus (2,472,520 Won). The pension withholding was the normal monthly amount of 112,450 Won and the same was true for the medical insurace (70,980 Won) so it appears that there are no withholdings on the end-of-contract bonus. The total payment to my bank account on Nov, 25th was 6,989,440 Won.
Base pay: 2,500,000 Won
Airfare reimbursement: 1,350,750 Won
Apartment deposit; 900,000 Won
Retiring allowance (bonus): 2,472,520 Won
DEDUCTIONS:
National pension:112,450
Medical insurance: 70,980
Lunch fee; 50,400
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My flight back to the US cost $1108.69. I bought it on September 11th but I was told I wouldn't be reimbursed until my final payout. I made a summary sheet on Excel that explained the amount I wanted to be reimbursed.
Cost of ticket in US Dollars; $1108.69
OANDA rate on September 11, 2010: 0.000856 KRW to USD
After 3% lost on transfer to US bank: 1,295,199 Won*
* This is the amount that needs to hit my account for me to be fully reimbursed.
A) Won before 3% conversion: 1,335,256 Won**
** This is the amount that I need to send so that after I lose 3% I get 1,295,199 in my account
B) NongHyup Bank remittance charge: 7,500 Won
C) NongHyup Bank cable charge: 8,000 Won
TOTAL Won to English Teacher: 1,350,756 Won***
*** sum of A, B, and C
On my final payslip it was noted that I received 1,350,750 Won (so I got really close)
NOTE: On November 26th when I actually received the money the OANDA rate was 0.00087 KRW to USD so I am essentially being reimbursed 1,274,356 Won instead of 1,295.199. However, I did get them to cover the 15,500 Won cost of wiring so losing 20,842 Won doesn't seem so bad.
PS - Here's the story behind the picture above. I tried to show two 3rd grade girls how to make paper snowflakes. I made the one on the bottom. We always say in the States that 'no two snowflakes look alike' but that is not true in Korea. Koreans replicate everything, so rather than making an original snowflake Elle make a replica of mine. Trust me, it's classic Korea.
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ReplyDeleteI hope you find this relevant. This is really just a heads up for anyone who is planing on making a snowflake in the next few days. Maybe you would also consider making one for Sandy Hook? The school has asked for donations of snowflakes to decorate the new building the students will enter in January. If you have a chance to make just one more snowflake you may like to look into it. http://eslcarissa.blogspot.com/2012/12/send-snowflakes-to-sandy-hook.html
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