SK hynix Approves Revised Wage Agreement With 57.1% Support... 50% of Bonuses to Be Paid in Cash

Final Agreement Reached Three Weeks After Initial Rejection

Collective Bargaining Concludes Smoothly Without Further Disputes

SK hynix's labor and management have concluded this year's negotiations by finalizing an amended agreement on wages and working conditions, approximately three weeks after their initial tentative agreement was rejected.

According to industry sources on the 16th, the union representing production workers and regular employees at SK hynix's Icheon and Cheongju plants held a two-day vote starting the previous day on the "2026 Collective Bargaining Agreement Renegotiation Plan." As a result, the revised proposal passed with a 57.08% approval rate.

Out of a total electorate of 16,039, 15,297 members participated, yielding a high voter turnout of 95.37%. The tally came to 8,731 votes in favor (57.08%) and 6,566 votes against (42.92%).

Previously, on August 25, labor and management had reached a first tentative agreement; however, while it passed in the union representing technical and office workers, it was voted down by the union representing regular employees, stalling the process. This was due to significant backlash from union members after the company proposed to pay a substantial portion of performance bonuses in stock, with restrictions on selling them.

In the newly passed amended agreement, the cash portion of the Performance Sharing (PS) bonus will increase from the company’s initial proposal of 40% to 50%, while the stock portion will be reduced from 60% to 50%.

View of SK hynix Headquarters in Icheon, Gyeonggi Province. Photo by Yonhap News Agency

This content was produced with the assistance of AI translation services.