SK hynix announced that a tentative agreement containing a 6% wage increase and a new Profit Sharing (PS) standard was reached through voting by labor union representatives on the 4th.
On this day, SK hynix and the labor union concluded wage negotiations that had been ongoing since May. The agreement reached stipulates that 10% of the annual operating profit will be paid as bonuses, with 80% of the individual bonus calculation amount paid in the current year and the remaining 20% paid over two years at 10% each year. The vote passed with a record high approval rate of 95.4%.
SK hynix stated, "By establishing clear and transparent standards for the direct linkage between the company's management performance and individual compensation, we maximized internal motivation for reward through system management," and noted, "Part of the bonuses will be deferred over two years, achieving a win-win effect that simultaneously pursues the company's financial soundness and compensation stability."
Meanwhile, SK hynix and the labor union are scheduled to hold a wage negotiation signing ceremony on the 5th.