{
  "id": 7732744,
  "title": "South Korea's SK Hynix union approves tentative wage deal with management, source says",
  "url": "https://urgent.news/2026/09/16/south-koreas-sk-hynix-union-approves-tentative-wage-deal-with-7732744",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-16T06:10:21.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40439743/south-koreas-sk-hynix-union-approves-tentative-wage-deal-with-management-source-says"
  },
  "original_language": "en",
  "account": "SEOUL: South Korean chipmaker SK Hynix's union has ratified a new wage deal with management, according to a source. The agreement, which faced weeks of uncertainty after workers initially rejected an earlier proposal, received support from 57.1% of union members, with 8,731 votes in favor, the source reported. The vote included employees from the company's production workers' union at its Icheon and Cheongju sites. The approval follows a rejection of an initial tentative agreement on August 20, prompting management and labor representatives to return to negotiations. Under the revised deal, the share of profit-sharing bonuses paid in cash will increase to 50% from 40%, while the portion paid in company shares will decrease to 50% from 60%, the source explained. The agreement is anticipated to finalize SK Hynix's wage and collective bargaining discussions for the year. The original tentative agreement, announced in August, called for a 6.3% wage increase and a significant revision of the company's profit-sharing payout structure, with 40% of bonuses previously paid in cash and 60% in treasury shares. This proposal faced opposition from some workers who believed bonuses should remain primarily in cash. SK Hynix disclosed record operating profits of 60.54 trillion won ($44.19 billion) in the second quarter, driven by demand for AI-related memory chips. The compensation framework, allocating 10% of operating profit to employee profit-sharing bonuses, was considered a groundbreaking labor agreement when introduced but became contentious when management suggested a larger share of bonuses in stock instead of cash. SK Hynix did not immediately provide a response to a request for comment.",
  "summary": "SEOUL: Chipmaker SK Hynix’s South Korean union has approved a tentative wage agreement with management, a source familiar with the matter said on Wednesday, ending weeks of uncertainty after workers narrowly rejected an earlier deal. The revised agreement won the backing of 57.1% of voting union members, with 8,731 votes in favour, the source said. The vote covered members of the company’s…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "South Korea's SK Hynix union approves tentative wage deal with management, source says",
        "url": "https://urgent.news/2026/09/16/south-koreas-sk-hynix-union-approves-tentative-wage-deal-with",
        "published": "2026-09-16T00:39:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}