South Korea’s SK Hynix union approves tentative wage deal with management
This raises share of profit-sharing bonuses paid in cash to 50%, up from 40% set in an earlier deal
South Korean chipmaker SK Hynix and its workers' union have reached a tentative wage agreement, ending a prolonged dispute. The agreement, approved by 57.1% of voting union members, will increase the proportion of profit-sharing bonuses paid in cash from 40% to 50%. The remaining 50% will be paid in company shares, which workers can opt to convert into shares in increments of 10 percentage points.
The new deal also includes a wage-deferral mechanism for times of losses, reflecting a shared responsibility between labor and management.
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- South Korea's SK Hynix union approves tentative wage deal with management, source says brecorder.com
- South Korea's SK Hynix union approves tentative wage deal with management, source says businesstimes.com.sg
- South Korea's SK Hynix union approves tentative wage deal with management, source says channelnewsasia.com
