I am not advising that you do this and this is not for everyone, but I am just telling it like it is. If you are considering quitting your job or if you have been fired from your job teaching English in Korea then you have a few options.
If you are trying to quit your job and would like to transfer to another job then you will probably need a letter of release from your employer.
But I am not going to go into that with this post.
In this post I am just going to tell you about the loophole which may or may not still be valid.
Here it is.
You can actually quit your job and remain in the country on your E-2 visa. I did this when I was fired from a public school in Korea. I was fired after the first semester and stayed in Korea another 4 months or so on an E-2 visa.
The visa will remain active until it expires on the date that's in your passport. You can't legally work at another school with this visa, however if you have other means of making money or just want to hang around or travel throughout Asia or whatever you can.
If I remember correctly your employer can't cancel it without you. In fact when this happened I called immigration and explained my situation and they said the school can't cancel it.
You can cancel it though by handing in your ARC when you leave the country. If you want to get a new job legally teaching in Korea and start all over then you would have to leave the country on a visa run and complete all of your paperwork again.
Again I am not advising this, but you could also get a part time job or work under the table at another school temporarily. If you are a very conscientious person then that is not for you.
According to Jordan Peterson's Big 5 test I am not a very conscientious person which means I don't necessarily follow the rules. If you object to this then that means you are a more conscientious person.
From my point of view I look at it like who are you harming by teaching under the table? But the immigration staff is very conscientious and you could get kicked out of Korea or maybe fined for teaching illegally.
If you want some more time or you need to make some more money before you go then you could get another job.
Of course if you are fired or quit your job then you will probably have to arrange your housing as most housing is included with the contract. I didn't have to arrange new housing. I stayed in the same housing, but had to start paying rent which was like 350,000 Won or so a month.
Anyways that's the deal if you are fired or quit you can stay in Korea on the E-2 visa until it expires. This probably isn't something you would plan on doing, but if you find yourself in this situation then well you have some options now that you probably didn't know.
Learn more about teaching in Korea.