How long is annual leave in the Republic of Korea?

In the Republic of Korea, supported employees accrue annual leave based on their attendance and length of service as follows:

• Employees are entitled to 15 days of paid leave per year if they maintain 80% attendance for 1 year.
• For every additional 2 years of service, employees earn an additional day of paid leave, up to a maximum of 25 days per year.
• If an employee's continuous service period is less than 1 year or their attendance is below 80%, they are entitled to 1 day of annual paid leave for each month of full employment with perfect attendance.

How is annual leave accrued in the Republic of Korea?

In the Republic of Korea, supported employees accrue annual leave as follows:

• Employees receive 15 days of paid leave per year if they maintain 80% attendance for 1 year.
• For every additional 2 years of service beyond the initial year, employees earn an additional day of paid leave, up to a maximum of 25 days per year.
• If a supported employee has a continuous service period of less than 1 year or achieves less than 80% attendance, they are entitled to 1 day of paid leave for each full month of employment with perfect attendance.

What is the carry-over policy for annual leave in the Republic of Korea?

In the Republic of Korea, the carry-over policy for annual leave operates as follows:

Employers typically remind employees to use their Paid Time Off (PTO). If employees fail to utilize their PTO despite these reminders, any unused PTO is forfeited without compensation.

However, if employers do not issue these reminders, any unused PTO at the end of the year is paid out to the employee rather than being carried over.

How is paid time off (PTO) calculated in the Republic of Korea?

In the Republic of Korea, paid time off (PTO) is calculated using the following formula:

Regular salary per month, multiplied by (8/209), multiplied by the number of PTO days

What is the process to request annual leave in the Republic of Korea?

In the Republic of Korea, the process for a supported employee to request annual leave involves the following steps:

• The supported employee must submit their leave request at least 2 days in advance using our Global Work Platform™.
• Once the request is approved, the leave is documented and updated in the system according to the company's policies.

These procedures align with the Rules of Employment (ROE) as set by Velocity Global Korea.

Is unlimited PTO an option in the Republic of Korea, and how can it be accommodated?

Unlimited paid time off (PTO) is an option available in the Republic of Korea. This jurisdiction does not have specific regulations or concerns regarding the implementation of unlimited PTO. Proper wording to accommodate this can be provided.