Departure guarantee insurance (출국만기보험)
Departure guarantee insurance (출국만기보험) is severance pay saved in advance for EPS (E-9) and H-2 foreign workers. Your employer must buy it and pays all the premiums (Act on the Employment of Foreign Workers, Article 13). You pay nothing.
At a glance
| Who | Employers of E-9 and H-2 workers |
| Premium | Employer pays 8.3% of your monthly ordinary wage every month |
| Eligibility | At least 1 year at the same company |
| Less than 1 year | The payout goes to your employer |
| Payment | Within 14 days after you leave Korea |
| Claim limit | 3 years from when you become eligible |
| Insurer | Samsung Fire (☎ 1600-0266, from abroad +82-2-2261-8400) |
If it is less than your severance pay, your employer pays the difference
The insurance replaces severance pay. But premiums are based on your base pay and fixed allowances (ordinary wage), while legal severance pay uses your average wage including overtime, night and holiday pay. So shift workers with a lot of overtime often get less from the insurance than their legal severance pay.
If the insurance payout is less than the severance pay under the Employee Retirement Benefit Security Act, the employer must pay the difference to the foreign worker. (Enforcement Decree, Article 21(3))
- Claim the difference directly from your employer when you retire.
- Calculate your difference in the “Foreign workers” step of the severance pay calculator.
Example
With a monthly ordinary wage of 2.5 million KRW for 3 years, the insurance is about 2.5 million × 8.3% × 36 months = about 7.47 million KRW (before interest). If your last 3 months averaged 3.3 million KRW a month including overtime and night pay, your legal severance pay is about 9.76 million KRW. Your employer must pay the difference of about 2.29 million KRW.
How to claim
The money is not paid automatically. You must apply.
- Where: Samsung Fire’s foreign worker insurance app (EPS insurance app), the Samsung Fire foreign worker portal, or the Samsung Fire counter at Incheon Airport on your departure day
- What you need: passport, alien registration card, bank account in your home country (check the exact documents with Samsung Fire)
- Payment: to your home-country account within 14 days after departure
Contact Samsung Fire or the foreign worker support center (☎ 1577-0071) 1–2 weeks before you leave so you can prepare the documents.
FAQ
My company fired me before 1 year.
In principle the payout goes to the employer if you worked less than 1 year. But if it was not your fault (dismissal, closure), your situation may be different — call the Ministry of Employment and Labor ☎ 1350 first.
What if I don’t claim within 3 years?
The money is moved to HRD Korea as dormant insurance. You can still claim it through HRD Korea, but it takes longer.
I changed companies.
It depends on your situation. Ask Samsung Fire (☎ 1600-0266) or the foreign worker support center (☎ 1577-0071).
Do I have to receive severance into an IRP account?
No. Foreign workers who leave Korea after retiring can receive it without moving it to an IRP (individual retirement pension) account.
Other EPS insurances
- Return cost insurance (귀국비용보험): bought by the worker for the flight home; paid back when you leave.
- Guarantee insurance (보증보험): bought by the employer against unpaid wages.
- Casualty insurance (상해보험): bought by the worker for non-work accidents and illness.
This is a reference guide. Confirm your eligibility and amount with Samsung Fire and the Ministry of Employment and Labor.
Last updated: 2026-10-22