SK Hynix Reaches Agreement with Union, Profit-Sharing Bonus Split Evenly Between Cash and Stock

Odaily News: SK Hynix has reached a new wage and collective bargaining agreement with its union, raising the cash portion of profit-sharing bonuses to 50%, with the remaining 50% paid in company stock. Approximately 57% of union members voted in favor of the new agreement, after the company's previous proposal of a 40:60 cash-to-stock ratio was rejected by the union. The agreement ends roughly two weeks of renewed negotiations. SK Hynix agreed last year to remove the cap on profit-sharing bonuses and to allocate 10% of annual operating profit to employee bonuses for 10 consecutive years. (Jinshi)