QFor business places of 10 persons or more, what are the other requirements in addition to employment contracts?A
Business places of 10 persons or more need to have their own employment rules and notify such rules to the Ministry of Employment and Labor.
In particular, any intended changes to the rules unfavorable to its employees will need the employees’ majority consent.
QFor business places of 5 persons or more, do I need to pay the additional wages in case of extended work?AFor business places of 5 persons or more, in case of employees engaged with extended work, the additional allowances in the form of 50 percent of the relevant ordinary wages should be paid in addition to the wages for the relevant working hours.
There are many considerations to look out for in calculating ordinary wages and an expert’s review and guidance are advisable.
QDo I have to prepare an employment contract?A
In case of hiring any and all forms of employees in Korea, the preparation of employment contracts is obligatory.
Unless the relevant person does not have such employee status, you will need to prepare and deliver employment contracts to all of your employees.