The following applies to all EPIK teachers, regardless of level, unless otherwise stated:
Settlement Allowance - 300,000 KRW (one-time payment)
All EPIK teachers will be provided with a settlement allowance of 300,000 KRW within the first month of their first contract only.
A leased house/apartment/studio-type room provided by your MOE/POE.
Utilities and maintenance fees are not provided for and are the responsibility of the EPIK teacher.
Due to variations in housing costs in different regions of Korea, the size and location of the supplied housing can vary from MOE/POE to MOE/POE.
All EPIK teachers who successfully complete their contract will be entitled to receive severance pay. Severance pay is equal to approximately one month's salary.
Entrance Allowance and Contract Completion Bonus/Exit Allowance
All EPIK teachers will be provided with 1,300,000 KRW as the Entrance Allowance at the end of their first contract month. Note: For applicants placed in Busan, Daegu, Jeju, Incheon and Chungbuk the entrance allowance will be provided after the first six months of the contract.
The Entrance Allowance is issued as a loan from the employer to the EPIK teachers. In the event that the contract is terminated within the first six months, regardless of the course or grounds, the EPIK teachers will be required to repay the aformentioned loan to your school immediately.
A contract completion bonus of 1,300,000 KRW is provided at the end of each contract period.
*In Gangwon this is referred to as an exit allowance when completing your final contract.
No contract completion bonus is provided for Seoul, Jeju, Gyeonggi, and Daejeon. However, a 1,300,000 KRW exit allowance will be provided at the end of the final contract.
*For Gyeonggi and Daejeon the renewal bonus listed below is higher to compensate for this.
A renewal bonus of 700,00 KRW will be provided upon completion of each renewed contract.
*A 2,000,000 KRW renewal bonus will be provided for Gyeonggi and Daejeon, divided into two payments: 1,300,000 KRW at the start of the renewed contract and 700,000 KRW at the end of the renewed contract.
*The Jeju Office of Education pays a flat 1,300,000 KRW renewal bonus at the start of the renewed contract.
*The Seoul Office of Education does not offer any form of renewal bonus.
Compulsory Medical Insurance - 50% of your premiums paid by your employer
In accordance with the National Medical Insurance Act, your MOE/POE will pay 50% of your medical insurance premiums. Current medical insurance premiums are approximately 5.89% of your salary and are payable monthly. Your host MOE/POE will pay half of this amount (approx. 2.945%) with the remaining amount being deducted from your monthly salary. This medical insurance will allow you to receive medical attention and prescription medicine at a fraction of the cost. In the event that EPIK teachers have dependents living with them in Korea, the MOE/POE will pay 50% of their medical insurance premiums in addition to the EPIK teacher.
EPIK Orientation - An excellent transition and networking opportunity
All EPIK teachers will receive orientation and training related to living and teaching in Korea. During this orientation, EPIK teachers will be exposed to various subject areas and activities related to teaching and living in Korea.
The orientation is conducted by EPIK at the orientation venue, prior to your contract start date.
The orientation period is not included in the term of employment and, as such, is unpaid.
Orientation is mandatory for all EPIK teachers. If you are not present at the orientation, you will not be eligible for employment.
Lodging and meals will be provided during the orientation free of charge for all EPIK teachers.