SK hynix union to revote on rejected wage deal next week
SK hynix's headquarters in Icheon, Gyeonggi Province, July 29 / Yonhap
Unionized workers at SK hynix will revote next week on a tentative wage deal that was rejected three weeks ago, industry sources said Wednesday.
The vote will be held for two days starting next Tuesday, they said.
Details on what has changed from the previous tentative agreement are expected to be disclosed at a union delegates' meeting scheduled for Thursday.
Last month, the union rejected a tentative agreement reached between the company and the union.
Under the previous agreement, SK hynix and its union had agreed to a 6.3 percent wage increase and a new payment structure for the company's performance-based incentive.
Under the proposal, 40 percent of the incentive would be paid in cash and the remaining 60 percent in company shares.
Of the shares, 40 percent would be eligible for sale in the year they are received, while the remaining 20 percent would be deferred and paid in 10 percent installments over two years.