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SK hynix Workers to Revote on Wage Deal Amid Previous Rejection

Seoul: Unionized workers at SK hynix Inc. are set to revote next week on a tentative wage deal that was previously rejected three weeks ago, industry sources reported on Wednesday. The revote is scheduled to occur over two days, commencing next Tuesday.

According to Yonhap News Agency, details regarding any alterations to the previous tentative agreement are anticipated to be revealed at an upcoming union delegates' meeting on Thursday. Last month, the union turned down a tentative agreement that had been reached between SK hynix and its union representatives.

The previously proposed agreement included a 6.3 percent wage increase and a revised payment structure for the company's performance-based incentive. Under the terms of the proposal, 40 percent of the incentive was to be distributed in cash, while the remaining 60 percent was to be provided in company shares. Of the shares, 40 percent would be eligible for sale within the year they are received, with the remaining 20 percent deferred and distributed in 10 percent installments over two years.

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