SK Hynix workers launch unified union over profit-sharing dispute

Workers at SK Hynix have launched a new, unified labor union to increase their bargaining power during contentious wage and profit-sharing negotiations. The “Hynix Integrated labor union” aims to represent employees across various job categories and locations, including production staff in Icheon and Cheongju, as well as technical and office workers in Bundang.

The formation of this fourth union follows a dispute over how the chipmaker distributes excess profits. While a previous agreement allocated 10% of annual operating profit to employee bonuses in cash, SK Hynix has recently proposed paying a majority of these bonuses in company stock rather than cash. This move follows a similar decision by Samsung Electronics.

The new union already counts approximately 2,400 members and is working toward becoming a majority union to secure greater influence over collective bargaining. The stakes are high for the company, which recently reported a record quarterly operating profit of 60.54 trillion won ($41.2 billion) driven by demand for AI infrastructure.