The law does not require a specific form for resignation notice. However, it is common to submit a written resignation letter or notice to the employer to have a clear record.

There is no statutory notice period for employees resigning under the Korean Labor Standards Act (LSA). Employees can resign without prior notice, but it is customary to provide at least 30 days’ notice to allow the employer time to adjust.

• Under Article 34 of the Labor Standards Act, employees who have worked continuously for one year or more are entitled to severance pay (called “퇴직금” or “retirement allowance”).

• Severance pay is generally calculated as one month’s average wage for each year of continuous service. If the employee resigns voluntarily after one year, they are entitled to receive severance pay.

• Employees are entitled to accrued annual leave payment if they have unused annual leave at the time of resignation, unless otherwise agreed.

• Employees should receive all unpaid wages, including any overtime or bonuses due at the time of final payment.

• Social insurance benefits (National Pension, Health Insurance, Employment Insurance, etc.) will be handled as per the standard procedures for termination.

Valid reasons for termination include inadequate skills, persistent poor performance, serious illness, violation of the employment contract, gross misconduct at work, falsifying educational or work history, inappropriate relationships with colleagues, or committing a criminal offense.

• Employees who have worked continuously for one year or more are entitled to severance pay (퇴직금) even if terminated with cause, except in cases where the dismissal is due to severe misconduct that legally justifies forfeiture (which is rare and must be clearly substantiated).

• Severance pay is calculated as one month’s average wage per year of service.

• Final wages, including accrued but unused annual leave, overtime pay, and bonuses, must be paid at the time of termination.

• Social insurance contributions will be handled according to standard procedures.

There is no legally required format, but the mutual agreement must be clearly documented in writing and signed by both employer and employee.

There is no statutory notice period for mutual termination. The parties can agree to any date for the end of employment.

• If the employee has worked for at least one year continuously, they are legally entitled to severance pay (퇴직금), even in a mutual termination situation. This is mandated by Article 34 of the Labor Standards Act.

• Severance is calculated as one month's average wage for each full year of continuous service.

• Any unused annual paid leave must be compensated in cash

• All unpaid wages, bonuses, overtime pay, and other accrued benefits must be paid in full

• Social insurance (pension, health, and employment insurance) is terminated as of the resignation or termination date and must be reported accordingly

• Any additional compensation or incentives included in a mutual termination agreement must be clearly stated in the agreement

South Korea law generally does not require the employer to give advance notice when a fixed-term employment contract ends as scheduled, provided the fixed term or the lawful reason for temporality has been validly applied. However, if the employment contract or internal rules require notification of the contract’s expiration, the employer must follow those terms.

• If the employee has worked continuously for one year or more, they are entitled to severance pay (“퇴직금”) even if the fixed‐term contract simply expires.
• The amount is generally one month’s average wage per year of service.

• Payment for days worked up to the contract end

• Accrued unused annual leave and any applicable vacation premium

• Any legally required bonuses, including contractual or stipulated bonuses

• Social insurance and pension contributions up to the end date, including deregistration where required

• Certificate of employment or proof of employment period, upon request

• The employer must give at least 30 days’ notice or payment in lieu under the Labor Standards Act for dismissals unless there is a serious cause.
• If the employee has worked less than 3 months, or if there is a very serious misconduct, notice may not be required.

• If an employee had worked at least one year, they remain entitled to severance even if terminated early (unless cause for forfeiture is applicable, e.g. serious misconduct).
• The amount is generally one month’s average wage per year of service.

• Unpaid wages up to termination date.
• Pro rata unused annual leave and vacation premium.
• Any contractually promised benefits, bonuses, allowances.
• Social insurance & pension up to termination, including filings / deregistration.

Under Article 36 of the Labor Standards Act (근로기준법 제36조), the employer must pay all wages, severance pay, and any other outstanding payments within 14 days from the date of termination of employment.

The 14-day deadline may be extended if both the employer and employee agree on a different date, in writing. Without mutual agreement, delay is not permitted.

Under Article 43 and Article 43-2:

• If the employer fails to pay on time, the employee may file a complaint with the Ministry of Employment and Labor (고용노동부)

• The employer is subject to default interest (연체이자) of 20% per annum on the unpaid amount, starting from the 15th day after termination

• The employer may also face criminal penalties of up to three years’ imprisonment or a fine of up to KRW 30 million, depending on the severity and recurrence