PEO für Südkorea

In general, 1-month is necessary to have an employee based out abroad using an existing PEO as the employe of record. When incorporating a new subsidiary to be the employer of record, the delay varies from 4-12 months.

For a single monthly charge based on the salaries of your co-employed employees, a reputable EOR in South Korea can be your partner in handling all important HR responsibilities, such as payroll, contract administration, and guaranteeing tax compliance. 

Partnering with an EOR gives you a safe, practical, and fully authorized way to relocate or hire personnel in South Korea. This employment choice can be used long-term or temporarily while you create your own company structure abroad. 

Employees managed through an EOR enjoy a range of benefits, including total legal security, specialist local knowledge of all employer responsibilities, timely and accurate payroll, improved employee perks, and more.  

By working with clients through an EOR, contractors gain access to all the standard benefits of an employee while still maintaining complete control over their work process.  

Yes, a high-quality EOR takes into account any differences in local or regional employment regulations, meaning you are covered wherever you wish to hire or transfer your staff. 

Payroll costs must include indirect expenditures like social insurance contributions, bonuses, or incentives in addition to a wage and any payments made to recruiting firms or experts.  

Additionally, although they are not required, signing bonuses might make you stand out to potential new employees. 

With certain EOR firms, there may be a minimum or maximum amount of employees you may hire. However, INS Global gives you the flexibility to manage as many or as few employees as your development strategy demands. 

Companies registered in South Korea may need to prove a physical address. However, South Korea, like most countries during the COVID-19 pandemic, has adapted well to remote work options for employees.  

Our recruitment staff members are familiar with regional customs and best practices and have access to professional networks as well as offline and internet business resources. 

In South Korea, professional staffing companies or recruitment agencies typically charge a recruiting fee that is calculated as a portion of the new hire’s monthly gross compensation. INS Global is also capable of fully integrating new hires into our EOR system to offer a complete employment outsourcing package. 

Yes, both South Korean nationals and international residents can benefit from INS Global’s range of recruiting, PEO, and EOR services. 

South Korean employees receive their pay monthly unless otherwise specified. While there is a mandatory 13th-month bonus, many companies will offer this as a perk to remain competitive.  

The employer is obliged to manage payroll taxes and social security deductions on behalf of their employees.

Currently, the South Korean minimum wage is 9620 KRW per hour (roughly equivalent to 1189 USD per month). 

Many work visa types that allow an employee to operate in South Korea for more than 90 days are based around specific job types and industries. A detailed list can be found here.  

All employees paid locally are required to pay income tax plus contribute to social insurances. This means that employers paying locally must also contribute towards their employees‘ social insurance funds (unless their employees are specifically covered as part of a reciprocal agreement).  

These insurances cover medical, retirement, employment, and accident insurance. The combined employer contribution can be as high as 30% of the employee’s salary in certain hazardous industries.  

Alongside social security benefits, South Korean employment legislation guarantees employees minimum salary, maternity and paternity leave, paid time off, overtime, and leave in the event of injuries sustained in the workplace. 

Changes to contracts in South Korea typically require the consent of the employee unless the change is advantageous to them. Changes that may be considered disadvantageous would be reviewed on a case-by-case basis if they are disputed.  

South Korea has a universal healthcare system that generally covers 50-80% of medical expenses and is generally seen as superior to those of its neighbors. It’s funded through a combination of contributing sources including social security and surcharges on specific industries like tobacco products.  

Everyone residing in South Korea for longer than 6 months is required to register for the National Health Insurance scheme.  

Severance pay under the LSA is equivalent to 1 month’s salary for each year of service.  

The Ministry of Labor in Korea is the governing body that regulates the application of the Labor Standards Act.  

There is only 1 paid day of annual public holiday (Labor Day). However, companies with over 300 employees are obliged to provide additional paid public holidays amounting to around 11 days per year. However, many companies of less than 300 employees will offer these days as paid or unpaid leave.