Leaving Korea Checklist — Severance, Pension Refund, Tax and Insurance

Severance & Leaving Korea · Updated 2026-10-08 · Penggu Korea Pay editorial team

A step-by-step money checklist for foreigners leaving Korea: final pay and severance, national pension refund, year-end tax, health insurance, bank accounts and your residence card.

Leaving Korea for good involves several separate payments and agencies. Missing one can cost you millions of won. Work through this list in the weeks before you go.

4–6 weeks before

1. Confirm your last working day with your employer in writing, and ask when your final salary and severance will be paid.
2. Calculate your severance. If you worked a year or more at 15+ hours a week, you are owed it. Use the severance pay calculator.
3. Check your pension refund eligibility. Look up your nationality or visa in the pension refund guide and estimate it with the calculator.
4. Count your unused annual leave. Unused days must be paid out when you leave.

1–2 weeks before

1. Ask your employer to report your departure to the four insurance agencies promptly after your last day. The airport pension counter cannot pay you until this is done.
2. Get your tax documents. Your employer settles your income tax for the year when paying your final salary. Ask for the withholding receipt (근로소득 원천징수영수증).
3. Decide how to receive money after you leave. Keep your Korean bank account open until severance and refunds arrive, or set up international transfers. Some banks restrict accounts once your visa expires.

At departure

1. Claim the pension refund at an NPS office before leaving or at the NPS counter at Incheon Airport (weekday departures).
2. E-9 workers: claim your departure guarantee insurance as well.
3. Return or report your residence card as required by immigration.

After you leave

1. Check that severance arrived within 14 days of your leaving date.
2. Claim missing tax deductions if needed by filing a return in May of the following year.
3. Close Korean phone plans and subscriptions to avoid unpaid bills that can complicate a future visa.

If your employer does not pay what you are owed, you can still file a complaint with the Ministry of Employment and Labor (1350) after you leave, but it is much easier while you are in Korea.

This guide reflects Korean laws and official notices as of 2026-10-08. Rules change, so confirm with the relevant agency before making important decisions.