[Breaking] “Performance Bonuses Can Be Paid Entirely in Stock” ... SK Hynix Labor-Management Agreement Reversed
TECHWORLD ·
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SK Hynix management and labor have reached a final agreement on the 2026 wage and collective bargaining deal.
The revised agreement changes the performance bonus ratio to 50% cash and 50% stock, and allows workers to choose stock instead of cash.
The union-wide vote was held on the 15th and 16th, and the deal passed with a 57.08% approval rate.
SK Hynix management and labor have reached a final agreement on the 2026 wage and collective bargaining deal. The SK Hynix labor union announced the result on the 16th.
After the first tentative agreement was rejected on August 25, the two sides continued negotiations. They then held concentrated talks for about 2 weeks.
As a result, the two sides drew up a revised agreement. The revised version was reached in a way that preserved the broad framework of the existing deal while expanding members' options.
The key point of the revised agreement was expanded individual choice in how performance bonuses are paid. The existing agreement set the payout ratio at 40% cash and 60% stock, while the revised agreement adjusted it to 50% cash and 50% stock.
The union-wide vote was held over 2 days, from the 15th to the 16th. The revised tentative agreement was finally approved through the vote. The approval rate for the revised tentative agreement was 57.08%, with 8,731 votes in favor.
The agreement allows workers to choose stock instead of cash for the cash payment portion, and it breaks the selection range down into 10% increments so that, depending on individual choice, the entire performance bonus can be received in stock.
The main points of this agreement also include the formalization of wage deferral in the event of losses. The aim is not only to pay performance bonuses when the company is profitable, but also to share joint responsibility and overcome crises together even in loss-making conditions.
Through this, the company and its members have established an institutional basis for jointly responding according to business conditions.
After the revised agreement was drawn up, management held member briefing sessions to improve understanding among workers, and more than 60 such sessions were held in total. At these sessions, the company explained the meaning, purpose, and expected effects of the system changes, and it strengthened communication with members during the revote process as well.
SK Hynix said the process has significance in that, even after one rejection, labor and management voluntarily made improvements and found a solution within the framework of the existing agreement.
An SK Hynix official expressed gratitude to the labor union and members for going through this difficult process together, and said the company and its members would jointly respond to problems they face in the future.
SK Hynix said it plans to hold a signing ceremony for the final agreement before Chuseok and formally conclude the 2026 wage and collective bargaining process.
Source: TECHWORLD · Park Gyu-chan
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407007
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Source: TECHWORLD
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