The base salary for teachers is 2.5 million "won" (which is the South Korean currency). For returning teachers, there is also a small stipend added to that as a thanks for coming back. There may also be other adjustments made on an individual basis for work outside of the standard contract.
The contract also makes allocations for airfare. Teachers are responsible for finding and purchasing their own airfare, but MUST check with us for approval BEFORE making the final airfare purchase. There is a maximum of1.5 million won limit for airfare reimbursement, which should be more than enough for a round trip airfare ticket to Korea. If you are planning on buying a multi-destination ticket for travel to other countries as well, please keep in mind that we can only reimburse up to 1.5 million won. We will need a signed copy of all travel receipts for reimbursement, whether plane, train, or automobile. I recommend http://www.momondo.com/ for making travel arrangements. If you are flying from South Africa, Emirates seems to be the most affordable airline.
Teachers will have the opportunity to set up Korean bank accounts during the orientation time. Salary and airfare reimbursements will be deposited directly into this account in Korean won. Teachers will then have an opportunity before leaving to transfer this money to their home bank account (and therefore to their home currency) or take their money back with them in cash: either Korean won or American dollars. The tax rate for foreigners is 4.4%, which will be deducted from the salary ONLY and NOT from any reimbursements.
