Entrance+&+Exit+Allowance

=Entrance Allowance (신규계약 지원비)=

= = Each NET is entitled to a 1,300,000 KRW entrance allowance. The sum should be directly deposited into your bank account after the first month of your contract by your school. The entrance allowance is considered a loan in the sense that if the NET fails to complete the first six (6) months of their contract, the total amount of 1,300,000 KRW must be reimbursed in full. Failure to do so will result in the NET being reported to the Immigration Office, which shall affect their ability to freely enter or be employed in South Korea in the future.

=Exit Allowance (계약완료 지원비)=

= = An exit allowance of 1,300,000 KRW is granted to the NET upon the successful completion of their contract. As the money will not be coming directly from the DMOE, but passed from the DMOE to your school, you should work with your school's administrative office to figure out where you would like the money to be sent (ie - to a bank account in your home country). The exit allowance works like the entrance allowance - you will initially have to reserve and purchase your airplane ticket on your own and use the exit allowance as reimbursement. The exit allowance cannot be processed until after your contract ends. Depending on your school's admin office, this may take up to 2-4 weeks.


 * If you decide to not renew with the DMOE, but are planning on staying in Korea and working elsewhere within the EPIK scheme, you will not be eligible for the exit allowance, but will instead receive a 300,000 KRW settlement allowance (from your new POE/MOE, as per the standard EPIK contract). Exit allowance is not available for those NET's that finish their contracts with the DMOE and stay on in Korea to work for other private institutions/universities...etc.***