The image shows the headquarters of SK Hynix located in Icheon, Gyeonggi Province. /Yonhap News
SK Hynix announced on the 4th that a tentative wage negotiation agreement, including a 6% wage increase rate and new Profit Sharing (PS) criteria, has been approved through a vote by labor union representatives.
On this day, SK Hynix’s labor and management concluded the wage negotiations that had been ongoing since May. The agreement stipulates that 10% of the annual operating profit will be paid as performance bonuses, with 80% of the calculated individual bonus amount paid in the current year, and the remaining 20% paid over the next two years at 10% per year. The vote passed with a record high approval rate of 95.4%.
SK Hynix stated, “By establishing clear and transparent criteria that directly link the company’s business performance and individual compensation, we’ve maximized internal motivation for rewards through systematic management,” and added, “By deferring part of the performance bonus over two years, we achieve a win-win effect that pursues both the company’s financial stability and compensation stability.”
Meanwhile, SK Hynix’s labor and management are scheduled to hold a signing ceremony for the wage agreement on the 5th.