Depending on teaching experience, qualifications, and university credentials, your monthly salary will be some figure between 1.6 million KRW and 2.5 million KRW (see application). Depending on the exchange rate, this is roughly $1500 to $2400 per month.
Your salary will be deposited directly into your bank account on the 17th of each month. You will receive your salary every month of your contract, even if school is not in session. Upon completion of your 12 month contract, you will receive one month's pay as a severance. You are exempt from Korean income tax.