SK hynix production workers’ unions on Tuesday rejected a tentative wage agreement over the company’s plan to pay part of performance bonuses in treasury shares. The vote failed by just 25 votes, with 50.08 percent opposing the deal and 49.92 percent supporting it. The company and unions are expected to return to negotiations, with the bonus payment ratio a key issue. The dispute comes as SK hynix’s huge profits have intensified broader debate over how corporate gains should be shared with workers.
An SK hynix plant in Icheon, Gyeonggi Province, on June 29 / Yonhap
Production workers’ unions at SK hynix on Tuesday voted down a tentative agreement reached between their delegates and management, sending the issue of how much of their hefty performance bonuses should be paid in treasury shares back to the negotiating table.
According to industry officials, the tentative agreement was rejected after 50.08 percent, or 7,535 members, of the two unions voted against it. The unions each represent production workers at Icheon plant in Gyeonggi Province and Cheongju plant in North Chungcheong Province.
The approval rate stood at 49.92 percent, or 7,510 votes, leaving a margin of just 25 votes. About 94 percent of the unions’ combined 16,083 members participated in the vote.
