South Korea
Make employment in South Korea easy. Let us handle payroll, benefits, taxes, compliance, and even stock options for your team in South Korea, all in one easy-to-use platform.
- Capital City
Seoul
- Currency
South Korean won (₩, KRW)
- Languages
Korean
- Population size
51,709,098
Facts & Stats
- Capital City
Seoul
- Currency
South Korean won (₩, KRW)
- Languages
Korean
- Population size
51,709,098
- Ease of doing business
Very easy
- Cost of living index
81.20 (2021)
- Payroll frequency
Monthly
- VAT - standard rate
10%
- GDP - real growth rate
2.0 (2019)
South Korea is one of Asia’s most technologically advanced nations with the modern metropolis of Seoul anchoring a strong culture of innovation and excellence. Employers looking for talent in the manufacturing, professional services, and tech sectors will find a haven of qualified South Koreans.
Many of the country's workers have experience working with large multinational companies and after the pandemic, flexible working and work from home business models have been rapidly normalized. Traditionally, South Korean business culture rewarded long hours in the office. A combination of younger people entering the workforce and the success of the post-pandemic work from home transition has led to a greater focus on life-work balance.
As the world’s tenth largest economy, South Korea enjoys the 7th highest human development index in Asia, an advanced democracy with extensive press freedoms, the world’s fastest internet speeds, delicious and unique cuisine, and of course, a vibrant entertainment industry that has given us the exceptional delights of K-Pop.
Grow your team in South Korea with Remote
Want to hire employees in South Korea? Companies hiring in South Korea are typically required to either own a local legal entity or work with a global employment platform like Remote that can legally provide employment services in the country.
Remote can employ team members in South Korea and keep you compliant at all times. Remote can hire, onboard, and pay your South Korea team so you don't have to set up local HR services in the region. Remote also makes it easy to pay contractors in South Korea. now to get started or talk to an expert for more details.
Risks of misclassification
South Korea, like many other countries, treats self-employed individuals or contractors and full-time employees differently. Misclassification of contractors in South Korea may lead to fines and penalties for the offending company.
Employing in South Korea
South Korea’s Labor Standards Act of 2005 spells out provisions for employee protections and workers’ rights for its workforce of 28.3 million. Employees in South Korea enjoy protections against discrimination based on age, religion, sexual orientation, gender expression, and race.
Common questions that could come up during the hiring process include minimum wage, overtime rates, and guaranteed paid time off. Remote can help you offer a complete, competitive, and compliant benefits package to your employees in South Korea.
Minimum Wage
In South Korea, the new minimum annual salary at an hourly rate of KRW 10,030 would be approximately KRW 20,462,400 annually.
Payroll Cycle
Wages are paid out on a monthly basis, either on the 25th or the last day of the month.
Onboarding Time
We can help you get a new employee started in South Korea fast. The minimum onboarding time we need is only 9 working days.
Our team ensures your employees are onboarded and paid as quickly as possible while keeping your business compliant with all local employment legislation. The minimum onboarding time begins after the employee submits all required information onto the Remote platform. The onboarding timeline is also dependent upon registration with local authorities.
For all non-nationals of the country of employment, the Right to Work assessment (if applicable) will add three extra days to the total time to onboard. There may be extra time required if we need to follow-up on the right to work assessment.
Please note, payroll cut-off dates can impact the actual first day of employment. Remote has a payroll cut-off date of the 10th of the month unless otherwise specified.
17 Public holidays
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Effortless HR South Korea: Take the Tour
Competitive benefits package in South Korea
At Remote, we’re passionate about helping you craft the best possible employee experience for your team. We are leading the way in developing globally competitive benefits programs. This means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive, and your company has the localized expertise needed to attract and keep the best global talent.
Our benefits packages in South Korea are tailored to fulfill the local needs of employees. Typically, our packages contain some or all of the following benefits:
Health Insurance
Dental Insurance
Vision Insurance
Mental Health Support
Pension or 401(K)
Life and Disability Insurance
Fair Pricing in South Korea
Employer of Record
$599
paid annually, or $699/month paid monthly
Top features
Hire without opening a local entity
Guided onboarding
Local payroll paid on time, every time
Built-in security and compliance
Flexible, localized benefits
Offer equity incentives with tax assistance
Dedicated experts for local support
Contractor Management
$29
per contractor/month
Top features
Only pay for contractors you actively work with
Work with international contractors
Create, edit, and sign tailored, localized contracts
Approve contractor invoices with one click or auto-pay
Transparent payments with complete visibility
Payroll
$29
per employee/month
Top features
Powerful, transparent international payroll
Simple self-service platform
Personalized support from dedicated specialists
Adhere to local payroll regulations in every country
Integrated payroll, expense management, and HRIS solution
Top features
Guided onboarding and offboarding
Employee profile and document management
Contract templates and e-signing
Time off and time tracking
Expense management
Employee and manager self-serve experiencea
Mobile app