SK Hynix and South Korean union hold talks over bonus pay

SEOUL, Aug 4 (Reuters) - ‌SK Hynix and ​representatives ​of one of its South Korean unions are holding a fifth round of talks ‌on bonuses at the chipmaker's factory complex in Cheongju ⁠city on Tuesday.

• The two sides are at odds over ‌SK Hynix's lucrative bonus scheme. ‌Last year, SK Hynix agreed to share 10% of its annual operating profit with workers. In 2026, ​that could translate into an average payout of 779 million won ($547,127) per worker, according to Reuters ⁠calculations.

• Management has proposed paying more than half of bonuses in shares and ​restricting their sale for a certain period, the union said in a note to members. ​The company also wants to ‌adjust bonus payments when it posts losses, according to the note, which was reviewed ⁠by Reuters.

• The union said it "would absolutely not accept any arrangement in which union members bear the risk of stock-price ⁠fluctuations."

• It said that if the company failed to present a "concrete ​and forward-looking revised proposal" at Tuesday's talks, resolving the matter through dialogue alone would be difficult, and it would "take necessary action."

• ‌An SK Hynix spokesperson declined to comment. The union could not immediately be reached ‌for comment.

• SK Hynix shares have jumped more than ⁠130% this year, but ‌have lost nearly half ​their value since hitting record highs in June. ($1 = 1,423.8000 won)

(Reporting by Hyunjoo JinEditing by Ed ‌Davies)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Russian drone attack injures five in Ukraine's Odesa, officials say
• Russian nuclear head says Ukraine attacked fuel trucks, endangered Zaporizhzhia plant
• New report of attack on Strait of Hormuz shipping fans fears of threats to oil supplies