According to industry sources on the 16th, the SK hynix Full-time Employees (Production Workers) Union held a general vote among its members from the 15th to the 16th on the “Proposal to Approve the Revised 2026 Wage and Collective Bargaining Agreement.” The revised proposal was ultimately approved after receiving the support of a majority of union members (57.08%·8,731 votes).
The revised proposal includes provisions to increase the proportion of excess profit distribution (PS) paid in cash from 40% to 50% and reduce the proportion paid in stock from 60% to 50%. Additionally, it allows employees to directly choose, in 10% increments, the proportion of their performance bonuses they wish to receive in company stock, ranging from 50% to a maximum of 100%. The company explained that this move expands employees’ options regarding how their performance bonuses are paid out.
Following the rejection of a tentative agreement last month, labor and management resumed negotiations and re-discussed the performance bonus payment methods. They revised the agreement to increase the proportion of cash payments compared to the original proposal and to allow employees to choose the proportion of company stock they receive based on their preferences.
Labor and management reached this revised tentative agreement on the 9th, and the union subsequently held a vote. Previously, last month, the two sides had reached a tentative agreement centered on a 6.3% wage increase and a performance bonus paid 40% in cash and 60% in company stock. However, on the 25th of last month, the tentative agreement was rejected in an electronic vote conducted by the SK hynix full-time (production) workers’ union, with 50.08% voting against it. The margin between the “yes” and “no” votes was a mere 25 votes.
It appears the agreement passed because the proportion of cash payments was increased and employees’ options were expanded.
