Security Deposit (손해배상담보금):


Your security deposit of 600,000 KRW should be refunded to you during the last month of your contract. This is regardless of whether or not you have renewed your contract (also regardless of whether or not your transferring or staying at your current school). Please remind your co-teacher or financial administrator when the time comes. Your security deposit may be used to cover any property damage. If the damage incurred exceeds the amount of the security deposit, then it will be deducted from your final paycheck, as stipulated in your contract (Article 12, Clause 1 and 8).Your security deposit may also be used to cover any other liability, claims, suits, losses, costs and/or legal fees that your school may incur due to any direct actions by the NET (Article 20). In other words, it is not strictly related to your apartment.

No security deposit will be deducted at the start of any subsequent contracts.