Bonus for record Q2 performance
Union member voting until the 10th
SK Hynix labor and management have tentatively agreed to raise wages by 5.7% this year.
According to industry sources on the 6th, SK Hynix and the technical office and full-time (production) labor unions held a '2024 Wage Negotiation Tentative Agreement' briefing session at the Icheon and Cheongju campuses in the afternoon to inform members of this content. This includes the 2% wage increase that was pre-applied earlier this year.
In addition, a performance bonus of 3.5 million KRW (fixed amount) will be paid on the 12th, before Chuseok, in recognition of the record-high performance in the second quarter this year. SK Hynix recorded sales of 16.4233 trillion KRW and an operating profit of 5.4685 trillion KRW in the second quarter. This is the third highest quarterly operating profit since 2018, the peak period of the semiconductor boom.
The labor and management agreed to raise the personal medical expense support limit from the existing annual 40 million KRW to 100 million KRW and improve family medical expense support measures to strengthen health support for members and their families. Additionally, the tentative agreement includes a significant increase in childbirth congratulatory money to 1 million KRW each for the first and second child, and 5 million KRW from the third child onward.
Hynix has decided to increase the annual medical expense support limit for employees from 40 million KRW to 100 million KRW and improve the medical expense support measures for their families, thereby strengthening health support for employees and their families. Additionally, the childbirth congratulatory allowance will be significantly raised to 1 million KRW each for the first and second child, and 5 million KRW from the third child onward. [Image source=Getty Images]
A special childcare leave system for male members for up to one year will be newly established, and support for education expenses and housing loans will be expanded for members with three or more children.
SK Hynix stated, "To further solidify our status as a global leading company in the artificial intelligence (AI) era, labor and management have agreed to continuously develop the corporate culture as one team," adding, "We will continue to strive so that the company and its members can grow together and take pride."
The tentative agreement will be finally decided through a union member vote from today until the 10th.
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