Ahead of renewed labor-management talks over the method of paying performance bonuses, SK hynix said regarding member compensation that "so that our members' performance and compensation can be confidently recognized by society, the company will protect members and ensure there is no disadvantage."
According to SK hynix on the 3rd, Jin Bogeon, head of corporate culture, said this at the "Together THE communication event" held the previous day at the Bundang campus in Seongnam, Gyeonggi.
On the background for preparing a plan to pay part of the performance bonus in stock, Jin said, "We needed to think about how to make the performance bonus system sustainable," adding, "Considering that the interests of shareholders, the largest stakeholders, and members are aligned, we considered paying in stock."
Kwak Noh-jung, president and CEO of SK hynix, also said, "Last year we reached an agreement in broad terms, and we will work with members on the details."
He went on, "This is a process of creating a better future together and building a sustainable company," adding, "We will work so the company and members can grow together with pride."
This event was the first executive communication session since the tentative labor-management agreement on the wage and collective bargaining agreement on the 25th of last month was voted down by union members. SK hynix holds a quarterly communication event attended by the chief executive officer (CEO) to hear members' opinions on key issues. The event that day was also broadcast live to all domestic business sites.
Earlier, labor and management drew up a tentative agreement that included a 6.3% wage increase and paying 40% of the performance bonus, the profit sharing (PS), in cash and the remaining 60% in treasury stock. However, the agreement was voted down by union members last month.
Labor and management plan to resume talks soon on the method of paying performance bonuses and other issues to draw up a new agreement.