A Renewal Allowance is a bonus given to those who choose to renew their contract with their current school. The renewal allowance is given in the amount of 2,000,000 won. Both the EPIK, GEPIK, SMOE and other Offices of Education provide renewal allowances.

Bonus Paid Vacation Days

Those that receive the Renewal Allowance are also eligible to receive bonus vacation time to the amount of 10 days. The vacation time must be used at the school’s discretion and to the dates they assign.

Exclusions

Those that are transferring to a new school from their current school within Korea are not eligible for the Renewal Allowance.