Korean Dictionary
How to say "Severance Pay" in Korean
“Severance Pay” in Korean is 퇴직금 (pronounced "toegikgeum").
퇴직금
toegikgeum
Usage & Context
퇴직금 is a mandatory lump-sum payment that Korean employers must provide to employees who have worked for at least one year upon leaving the company. It is regulated by the Korean Labor Standards Act and is calculated based on the employee's average wage. This benefit is a significant part of Korean employment culture.
Example Sentence
1년 이상 근무하면 퇴직금을 받을 수 있습니다.
You can receive severance pay if you work for more than one year.
How to use 퇴직금 naturally
Quick answer
The Korean word for “Severance Pay” is 퇴직금, romanized as toegikgeum.
Usage tip
Business Korean usually needs polite or formal endings, especially in emails, meetings, and customer situations.
Common mistake
Do not rely only on the English meaning. Read the Korean example sentence and notice the particles, word order, and politeness level around 퇴직금.
Pronunciation Guide
The word '퇴직금' is pronounced 'toe-jik-geum'. '퇴' sounds like 'toe' in English. '직' sounds like 'jik' in 'jiggle' but with a short 'i' and a crisp 'k' at the end. '금' sounds like 'geum', similar to 'goom' but with a softer 'g' and a vowel sound like 'uh' in 'butter'.
More Example Sentences
Asking HR about the payment schedule after resignation.
퇴직금 정산은 언제 되나요?
When will my severance pay be settled?
Discussing future plans after leaving a job.
퇴직금으로 새 차를 살까 생각 중이에요.
I'm thinking of buying a new car with my severance pay.
Explaining company benefits related to post-employment funds.
저희 회사는 퇴직연금 제도를 운영하고 있어요.
Our company operates a retirement pension system (instead of direct severance pay).
Cultural Context
In Korea, '퇴직금' is a mandatory lump-sum payment for employees who have worked for at least one year, regulated by the Labor Standards Act. It serves as a significant financial cushion, often used for new ventures, large purchases, or as a bridge during unemployment. Many companies now offer '퇴직연금' (retirement pension) as an alternative, but the concept of a substantial payout upon leaving a job is deeply ingrained in Korean employment culture.
Editorial note
We review business terms like 퇴직금 for formality, so the example fits emails, meetings, or workplace conversations instead of casual speech.
Reviewed by Min-jung Park, Korean Language Teacher. Updated May 31, 2026. See our editorial standards.
Common Phrases
퇴직금 받다
to receive severance pay
퇴직금 계산하다
to calculate severance pay
퇴직금 정산
severance pay settlement
Related Expressions
퇴직
toejik
retirement, resignation (the act)
퇴직연금
toejik yeongeum
retirement pension
실업급여
silleop geupyeo
unemployment benefits
월급
wolgeup
monthly salary
More Business Words
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