SK Hynix Labor-Management Wage Deal Rejected... Re-negotiation Over Stock vs. Cash

SK Hynix's tentative wage and collective agreement, reached after two months of negotiations, has been voted down by the labor union.

In the vote that closed this morning (the 25th), more than 15,000 union members participated, with opposition recording a majority at 50.08%.

The approval rate stood at 49.92%, just 25 votes short of the opposition.

Consequently, labor and management are set to enter re-negotiations, focusing on the core contentious issue of the performance-based bonus payment method.

Previously, SK Hynix labor and management reached a tentative agreement on the 20th that included a 6.3% wage increase and the payment of a portion of performance bonuses in company stock, but some union members had opposed it, demanding cash payments in full.
※ Please note: This article was translated by AI and may contain errors.