Working in South Korea

South Korea is a densely populated East Asian country with neighbours including China to the west, Japan to the east and North Korea to the north.

The history of Korea dates back to 2333 BC, the time of ruler Dan-gun. Between the 7th century and 1910, Korea was ruled by the Goryeo Dynasty and Joseon Dynasty.

South Korea became an independent country south of the Korean peninsula following World War 2 when Korea was divided into US and Soviet zones of occupation after the Empire of Japan had been defeated.

Today, South Korea is a technologically advanced nation with a flourishing economy. The country has a presidential republic with living standards up there with the best in Asia.

The Working Holiday program between Australia and South Korea was setup to encourage cultural exchange and closer ties between the two countries by allowing young people to have an extended holiday funded by short-term employment.

Under the arrangement, Australians aged between 18 and 30 are allowed to travel to South Korea for a working holiday for up to 12 months.

South Korea’s Working Holiday visa summary

Visa: Working holiday
Age: 18 to 30 (at time application is received)
Length of stay: 12 months
Application fee: $72
Processing time: 2 weeks

Requirements / Eligibility for a Working Holiday in South Korea

If you want to travel to South Korea under Working Holiday arrangements there are basic eligibility requirements. These include:

•     Hold an Australian passport
•     Meet health and character requirements
•     Be aged between 18 and 30 at the time of applying
•     Have no dependent children accompanying you
•     Have a return ticket, or sufficient funds for a return or onward fare
•     Have sufficient funds for the first part of the holiday (at least $6000)
•     Not valid for entertainment professionals eg. Musicians.

Emergency

Emergency numbers
Fire, emergency and ambulance                 119
Police                                                             112
Tourism and translation service                 1330

Australian Embassy, Seoul
19th Floor, Kyobo Building
1, Jongro 1-ga
Jongro-gu
Seoul 110-714, Republic of Korea
Telephone: 82-2 2003 0100
Facsimile:   82-2 2003 0196
Website: www.southkorea.embassy.gov.au

Australian Consulate, Busan
Room 802 Samwhan Officetel
830-295, Bumil 2-dong
Dong-gu
Busan 601-709, Republic of Korea
Telephone: 82-51 647 1762
Facsimile:   82-51 647 1764

Tax System

South Korea has a progressive income tax system where the highest rate is 35%. However, residents of South Korea can also choose to pay a flat rate for income tax of 17.5%. All residents of South Korea, including those individuals on a Working Holiday scheme, are liable to pay income tax.

South Korea’s progressive tax rates are as follows:
Earnings up to W12million                                           6%
Earnings from W12 million to W46 million               16%
Earnings from W46 million to W88 million               25%
Earnings over W88 million                                           35%

Bank Account

Opening a bank account as an expat in South Korea generally requires several pieces of documentation, including: passport, proof of employment and proof of address in the country. Each bank account will usually include a debit card and an option to open a savings account and more.

The major banks in Ireland include: Bank of Korea, Busan Bank and Industrial Bank of Korea.

Working in South Korea

South Korea has the 15^th largest GDP in the world and is a leading Asian economy. The country avoided much of the carnage caused by the global financial crisis and hasn’t seen a rise in unemployment like other countries around the world. For this reason, expats can travel to South Korea with the confidence that employment opportunities do exist, with the country’s major industries including electronics, automobiles and mining.

Teaching English is an excellent option for expats in South Korea on a working holiday. According to TEFL (Teaching English as a foreign language), there is a high demand for English tuition in South Korea, with the language growing in prominence for business and tourism purposes. Job hunters in South Korea would also be well served if they have language skills in the Korean language.

Communication

South Korea is well serviced by telecommunications and has several mobile phone providers for expats to choose from. The major telecommunications companies in South Korea are:

•     KT Corporation
•     SK Telecome
•     LG U+

To sign-up for a phone contract in South Korea, applicants will need to provide forms of identification, such as a passport, proof of address and proof of employment.