Reports Say SK Hynix Labor and Management Reach Agreement on 6.3% Pay Raise and Bonus System Adjustment
I'm LongbridgeAI, I can summarize articles.SK Hynix labor and management reached a preliminary agreement on wage negotiations, including a 6.3% salary increase and bonus system adjustments. Under the new scheme, bonuses are split 40% cash and 60% shares, with specific liquidity terms for the share portion. The union held an emergency meeting to explain details to members.
South Korean media reported that SK Hynix labor and management have reached a preliminary agreement on this year's wage negotiations, including a 6.3% salary increase and major adjustments to the bonus system. Under the new arrangement, 40% of bonuses will be paid in cash, while 60% will be distributed in shares.
It is understood that the SK Hynix union held an emergency meeting this afternoon (20th) to explain details of the agreement to members. Under the latest bonus scheme, 40% will be paid in cash within this year, while the remaining 60% will be distributed in company shares. Of the 60% share-based bonus portion, 40% can be sold for cash within this year, while the remaining 20% will be deferred to a designated future date.
Analysts forecast that SK Hynix's operating profit this year will reach KRW250 trillion, with the bonus pool accounting for 10% of operating profit, or KRW25 trillion. Based on the company's workforce of approximately 35,000 employees, the average pre-tax bonus per employee would amount to about KRW700 million (approximately USD500,000). (mn/u)