The tentative labor-management agreement on wages and collective bargaining for this year, prepared by SK Hynix management and labor, was rejected in a yes-or-no vote by members of the production workers' union.
SK Hynix's labor union announced on the 25th that the tentative agreement was rejected with 49.92% voting in favor and 50.08% against. Out of 16,038 eligible voters, 15,045 cast ballots, resulting in a turnout rate of 93.81%. The vote tally showed 7,510 votes in favor and 7,535 against, a difference of just 25 votes.
The voting process required participation by more than half of all union members, with approval contingent on receiving more than half of the total votes cast.
Previously, after six rounds of negotiations, management and labor reached a tentative agreement on the 20th to distribute 40% of the excess profit-sharing bonus (PS) in cash and the remaining 60% in company stock. Of the shares distributed, 40% may be sold starting the day after receipt, while 20% will be deferred and paid out at 10% annually over two years. However, for the 2026 PS to be paid early next year, employees may choose to receive 40% of the stock portion in cash instead.
For the 20th% deferred portion, recipients can choose to receive either a fixed number of shares or a fixed monetary amount based on the share price at the time of payment. If they opt for shares, they will receive them upfront but may sell 10% each after one year and two years. If they choose the monetary amount, the number of shares will be calculated based on the value at the time of receipt.
With the tentative agreement rejected by the production workers' union, management and labor plan to resume negotiations and hold another yes-or-no vote among members.
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