Tough times because of the exchange rate. Watch out in case you get short changed.

OK the won is depreciating, and one's Korean paypacket aint worth much in U.S. dollars anymore. The Holleys have to be hurting too, so I'm sure they will look for ways to cut corners either legally or illegally so that they don't lose their investments in the U.S.

The pension should be watched. Some shonkey hogwons make their 4.5%(or whatever it is) deductions from your paycheck for the pension, and pocket it. As an employee of the Holley's who of course aren't that honest I would check to see that they are on the level, and not pocketing the deductions. The pension office in Gwangju is very accomodating, but it might be good to take someone who can speak Korean to help. Don't ask the Holleys, because they will tell you anything. Of course only citizens from Canada, the United states and the few other countries whom have reciprocal agreements with Korea can claim back there deductions and the matching payments of their employer. It wouldn't be that wrong of course if the Holleys didn't take pension deductions from those teachers whom aren't elligible to recieve the pension pay out. By law all employee have to be on the national pension plan, but then this would be breaking the law to help an employee.

The payout from the pension scheme is at least the equivalent of the severance, so the benefitting teachers finish their contract with a decent bonus in their hands

Now one is supposed to leave the country to get their pension back. I think one has to nominate a bank in that persons country , and it gets forwarded. There are ways to have it wired into a bank in Korea. Check DAVES ESL CAFE under the "KOREAN JOB FORUM" section and one can find the advice one needs