SK Hynix management and labor unions are set to hold a re-vote on the tentative collective bargaining agreement three weeks after its initial rejection. It remains to be seen whether a settlement can be reached before the Chuseok holiday through this vote.
According to industry sources on the 9th, SK Hynix union plans to convene an emergency Lim Si-dae (Rep.)assembly on the 10th to explain the revised tentative agreement and proceed with a member-wide vote on the 15th–16th. The revised content will be disclosed at the delegates' assembly on the 10th.
Previously, management and labor had prepared a tentative agreement that included a 6.3% wage increase, cash payment of 40% of the excess profit-sharing fund (PS), and stock repurchase of 60%. However, in the vote held on the 25th of last month, while the technical staff union approved it, the full-time employee union rejected it by a narrow margin of just 25 votes.
Following the rejection of the tentative agreement, management and labor have resumed negotiations, aiming to reach a settlement before Chuseok through this re-vote.
Kwak No-jeong, CEO of SK Hynix, stated on the 2nd: "Last year, we reached an agreement on the broad framework, and we will now work together with members to address finer details. We will strive to create a better future together and build a sustainable company, enabling both the corporation and its employees to grow with pride."
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