Unified SK hynix Labor Union Launched... Aiming for Majority Status
Securing Majority Union Status as Top Priority
Aiming to Ensure Performance Bonuses Are Paid in Cash
A unified labor union encompassing both permanent (production) staff and technical office employees has been launched at SK hynix. With union membership exceeding half of all employees, the new union is expected to take a strong stance on maintaining the principle of paying performance-based bonuses (PS) in cash.
According to industry sources on August 13, the unified SK hynix labor union received official certification for its establishment from the authorities earlier that afternoon. The union currently has more than 2,400 members, surpassing the previous technical office workers' union in size.
The unified labor union is a 100% independent body and is not affiliated with any higher organizations, such as the Korean Confederation of Trade Unions or the Federation of Korean Trade Unions. Its top priority is to secure union membership of approximately 18,000 out of SK hynix’s total workforce of about 35,000, thereby attaining the status of a majority union.
Currently, SK hynix is holding separate annual wage and collective bargaining agreement negotiations with three existing unions representing permanent (Icheon and Cheongju) and technical office workers.
In the wake of recent government initiatives to adjust the performance bonus system linked to operating profit and the company's discussions on revamping bonus structures, dissatisfaction with the existing unions has grown. This has underscored the necessity for a unified union that transcends job types and regions.
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Meanwhile, the existing unions recently held their sixth main negotiation session with management. On the same day, the three unions jointly issued a statement calling on management to make a prompt decision. Management is reportedly considering a plan to pay a portion of bonuses in company stock and to restrict sales of these shares for a set period as part of the negotiations.
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