SK Hynix, criticized for 1500% bonus being low... now offering additional company shares worth around 6 million won

Decision to Grant an Additional 30 Shares of Company Stock

SK Hynix has decided to provide an additional 30 shares of its own stock following the payment of a 1500% performance bonus last month.

Yonhap News

According to industry sources on the 7th, SK Hynix announced in an internal notice that it will grant 30 shares of its own stock (worth approximately 6 million KRW) and has agreed with the labor union to establish mutually acceptable and reasonable standards for the criteria of the Profit Sharing (PS) scheme.

Previously, on the 24th of last month, SK Hynix paid a total performance bonus of 1500%, including 1000% for Profit Sharing (PS) and 500% as a special performance bonus. PS is an incentive paid once a year based on annual performance, up to a maximum of 50% of the annual salary (1000% of the base salary).

The labor union argued that the 500% special performance bonus was unilaterally paid without consultation and claimed that, based on calculating 10% of operating profit as the resource, a higher level of special performance bonus should have been paid.

SK Hynix achieved a record high operating profit of 23.4673 trillion KRW last year on a consolidated basis.