SK Hynix management and labor have reached a tentative agreement on re-negotiating this year's wage and collective bargaining agreement (CBA). The agreement includes raising the cash payment portion of the excess profit distribution (PS) from 40% to 50%, with the remaining 50% paid in treasury stock.
SK Hynix Full-time Employee Production Workers Union held an emergency Lim Si-dae (Rep.) meeting on the 10th and explained the tentative re-negotiation agreement to delegates. The union plans to explain the agreement details to members starting this afternoon.
Management and labor had previously prepared a tentative agreement that included a 6.3% wage increase for last month and a PS payment structure of 40% cash and 60% treasury stock. However, the agreement was rejected in a member vote on the 25th by a margin of 25 votes, prompting the preparation of a revised agreement.
The member-wide vote is expected to take place on the 15th and 16th.
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