SK hynix union to hold revote on wage deal next week
SK hynix unionized workers will revote next week on a wage deal rejected last month, with details of the revised agreement to be disclosed Thursday.
The union delegates' meeting scheduled for Thursday is expected to disclose what has changed from the previous tentative agreement, the sources said, without elaborating.
In August, union members voted down the original tentative agreement reached between SK hynix management and the union. That agreement had proposed a 6.3 percent wage increase and a new payout structure for the company's performance-based incentive.
Under the rejected proposal, 40 percent of the incentive would be paid in cash and the remaining 60 percent in company shares. Of those shares, 40 percent would become eligible for sale in the year they are received, while the remaining 20 percent would be deferred and disbursed in 10 percent installments over the following two years.