Will the labor-management conflict end? SK hynix agrees to pay incentives using 10% operating profit

SK Hynix headquarters in Icheon, Gyeonggi-do. Provided by SK Hynix

SK Hynix decided to pay the excess profit distribution (PS) to its members using 10% of its operating profit.

SK Hynix announced on the 10th that both labor and management held a central labor-management council at the head office in Icheon and confirmed specific plans for the previously agreed incentive improvement plan.

On the 4th, SK Hynix’s labor and management decided to change the PS payment standard from’Economic Value Added’ (EVA) to’Operating Profit’. In addition, it has agreed to issue employee stock shares equivalent to 200% of the basic salary.

On this day, the labor and management specifically agreed to use 10% of operating profit for PS resources. In addition, the company plans to disclose PS payment estimates at the beginning of the year and quarterly so that members can predict how much they will receive at the beginning of the next year.

The employee stock stock, which is equivalent to 200% of the basic salary, was given free of charge on the condition of ‘4 years of obligation to hold’ or purchased at a discount of 30%. The company plans to provide loans to alleviate the financial burden for members who purchase our stockholders at discounted prices.

SK hynix plans to hold an employee stock ownership briefing session for employees next month and transfer the stock after approval by the board of directors in early April.

Reporter Nam Hye-jung [email protected]

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