Si Sa Foreign Language Academy
201-19 Namsung Dong
Sangju Si
Kyungsangbuk Do
Korea 742-010
Dear Sir:
Beginning on August 9, 1999, R. Walter Ogburn IV has been employed as an
English instructor at the Si Sa Foreign Language Academy in Sangju, South
Korea. The following is a record of his gross income and deductions from
his monthly wages for the months of August through December, 1999.
In U.S. Dollars:
(Converted at $1 = 1121 won)
| Month |
Gross Income |
Deducted for Taxes |
Deducted for Utilities |
Deducted for Other |
Net Income |
| August |
1,338 |
89 |
89 |
321 |
839 |
| September |
1,338 |
89 |
89 |
0 |
1,160 |
| October |
1,338 |
89 |
89 |
0 |
1,160 |
| November |
1,341 |
89 |
89 |
0 |
1,160 |
| December |
1,445 |
89 |
89 |
0 |
1,267 |
| . |
TOTAL |
6,800 |
445 |
445 |
321 |
5588 |
In South Korean Won:
| Month |
Gross Income |
Deducted for Taxes |
Deducted for Utilities |
Deducted for Other |
Net Income |
| August |
1,500,000 |
100,000 |
100,000 |
360,000 |
940,000 |
| September |
1,500,000 |
100,000 |
100,000 |
0 |
1,300,000 |
| October |
1,500,000 |
100,000 |
100,000 |
0 |
1,300,000 |
| November |
1,503,493 |
100,000 |
100,000 |
0 |
1,303,493 |
| December |
1,620,000 |
100,000 |
100,000 |
0 |
1,420,000 |
| . |
TOTAL |
7,623,493 |
500,000 |
500,000 |
360,000 |
6,263,493 |
Notes:
The "other deductions" for August are 100,000 won ($89) for mandatory
health
insurance coverage, and 260,000 won ($232) for overnight travel to
Fukuoka, Japan, to secure a Korean working visa.
The basic monthly salary for a native English instructor is 1.5 million
won (about $1,400).
The extra 3,493 won (about $3) earned in November is interest accrued in a
checking account within Korea.
The extra 120,000 won ($107) earned in December is overtime pay.
Column sums in the U.S. dollars table may not match exactly because of
rounding after the currency conversion.
Sincerely,
Seol Chung Ja,
Director
Si Sa Foreign Language Academy