World · Singapore Bureau
SK Hynix workers reject pay deal despite 6.3% wage increase offer
South Korea's SK Hynix union has voted down a wage agreement that would have provided employees with a 6.3% salary increase and changes to profit-sharing arrangements. The rejection signals continued labour tensions at the major semiconductor manufacturer.
LSN Singapore ·
Members of SK Hynix's labour union have rejected a wage settlement package negotiated with management, according to voting results announced on Wednesday. The proposed agreement included a 6.3% wage increase alongside a restructured profit-sharing bonus scheme designed to align employee compensation with company performance.
The rejection marks a setback in wage negotiations at the South Korean chipmaker, one of the world's largest producers of memory semiconductors. The union's decision to spurn the offer suggests workers view the package as insufficient, though the specific reasons cited by union leadership have not been detailed.
SK Hynix has faced mounting labour disputes in recent years as unions push for better working conditions and compensation amid volatile semiconductor market conditions. The company's negotiations with worker representatives have become increasingly contentious as the industry grapples with cyclical demand pressures.
Management has not yet commented on next steps following the union vote rejection. The two sides are likely to resume negotiations in an effort to reach an agreement that addresses worker concerns while meeting the company's operational requirements.