SK hynix, which posted its highest-ever results last year, decided to pay members a performance bonus equal to 2,964% of base pay (one-twentieth of annual salary), the largest on record.
According to the industry on Feb. 4, SK hynix set this year's payout rate for the "profit sharing (PS)" at 2,964%. The payment date is Feb. 5. PS is SK hynix's performance bonus system that, based on annual results, uses 10% of operating profit as the funding source to pay a set percentage of annual salary once a year.
Starting with this year's PS payout at SK hynix, the new PS payment standard agreed to by labor and management in the second half of last year has been applied. The new standard abolishes the previous PS payout cap (maximum 1,000%) and uses the entire 10% of the prior year's operating profit as the funding source. The company decided to keep this standard for 10 years.
Eighty percent of each individual's calculated performance bonus is paid in the current year, and the remaining 20% (10% each year) is deferred over two years.