Samsung, SK hynix Unions Unite Over "N% Performance Bonus" Fight
As the launch of the SK hynix unified labor union enters the final countdown, movements for a joint response with the Samsung Electronics super-enterprise union are also being detected. The backlash against the reorganization of performance bonuses linked to treasury shares is evolving beyond intern
The SK hynix unified labor union and Samsung Electronics super-enterprise union are joining forces over a disagreement regarding the payment of performance bonuses linked to treasury shares. This alliance is forming in response to the reorganization of performance bonuses, which has become a point of contention between the two labor unions.
The SK hynix unified labor union has decided to align with the Samsung Electronics super-enterprise union in order to maintain the 'N% performance bonus.' This movement emerged after the SK hynix union's task force deemed the management's proposal to change the performance bonus payment method to a treasury stock-linked system as unreasonable. The task force is now seeking to unite with Samsung Electronics' union, which shares the same stance on the matter.
Both labor unions have held 5 rounds of negotiations, but have been unable to reach an agreement on the performance bonus payment method. The Samsung Electronics union has proposed distributing a portion of the profit sharing as a performance bonus, to be paid early next year, by replacing it with treasury shares. However, the SK hynix union argues that this change to the rules of employment is disadvantageous to workers and emphasizes the necessity of majority worker consent by law.
The SK hynix unified labor union recently approached the Samsung Electronics super-enterprise union for advice and cooperation. Both unions now plan to respond through a full-scale alliance, as they believe management is unilaterally changing labor-management agreements, such as performance bonus payments. Choi Seung-ho, the chairman of the Samsung Electronics super-enterprise union, acknowledged receiving a call from the interim chairman of the SK hynix unified labor union, expressing concern over the company's demand to alter the terms agreed upon for the past 10 years.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
