SK hynix seeks new labor agreement after bonus proposal rejection

SK hynix management held a communication event following the rejection of a tentative wage and collective bargaining agreement. The rejection occurred after union members voted against a proposal that included a 6.3% wage increase and a profit-sharing structure where 40% of bonuses would be paid in cash and 60% in company stock.

During the event held at the Bundang campus, SK hynix executives explained that the shift toward stock-based compensation was intended to ensure the sustainability of the profit-sharing system while aligning the interests of shareholders and employees. Jin Bo-geon, head of corporate culture, emphasized that the company would protect employees and ensure their performance is recognized without disadvantage.

CEO Kwak Noh-jung stated that the company intends to work closely with employees to refine the details of the agreement. Following the narrow rejection of the initial proposal, labor and management are expected to return to the negotiating table to reach a new consensus, with the specific ratio of cash versus stock payments likely to be a central point of contention.