SK Hynix union finalising preliminary wage deal, source says

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SEOUL, Aug 19 : SK Hynix's South Korean labour union is finalising the wording of a tentative wage deal with management and will brief members on the terms Wednesday afternoon, a source familiar with the talks said.

The two sides were making last-ditch efforts to iron out differences and conclude the deal, which is subject to approval from union members.

A key issue in the talks is SK Hynix's lucrative bonus scheme.

Last year, SK Hynix agreed to share 10 per cent of its annual operating profit with workers in the form of cash, under an agreement which would be in place for 10 years.

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This year, however, management proposed paying more than half of bonuses in shares, with sale restrictions for a set period - a plan that met with union opposition.

In 2026, Hynix workers are set to receive an average payout of 779 million won ($547,127) per worker, according to Reuters calculations.

The SK Hynix spokesperson was not available for comment.

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