From carolinaaccounting.com
There's a famous hagwon here in Korea which likes to hire teachers as independent contracts. CDI, or Chungdam Institute, one of the top hagwons in Korea regularly does this.While some people like this since there are less deductions, no health insurance or pension is taken out, other people dislike it for this exact reason. Here's the low down on ICs (independent contractors).
- No housing
- No pension (you have to pay the employer and employee contribution)
- No health insurance (you have to pay the employer and employee contribution)
- No severance
- No maternity leave
- No guarantee that they will allow you to add jobs to your visa
- No paid vacation
- Paid per hour so could make decent money