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Legal Briefing
Small Korean businesses now obliged to hand out severance pay
Practice Area: Contract of Employment and Statutory rights
Sector: Business services
Jurisdiction: South Korea
Published: 08 March 2011
Law Firm: Yulchon
Overview
Korean law firm Yulchon examines the amendment of the country's Retirement Benefit Guarantee, which will affect small businesses with less than five employees.
The amendment will enforce all employers to pay their employees severance pay from 1 December 2010.
Yulchon explores the two provisions available to help unprepared businesses to adjust.
Click ‘View briefing’ for more details.
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