SK Hynix union narrowly rejects wage deal amid AI chip boom
SK Hynix union members reject tentative wage deal by a narrow margin, voting 50.08% against the 6.3% pay rise and bonus revision.
Union members at SK Hynix, the world's second-largest memory chipmaker, have voted against a tentative wage agreement, according to a source familiar with the vote count. The result, announced on Tuesday, saw 50.08% of the 15,045 workers who cast ballots oppose the deal.
The proposed agreement, reached last week, included a 6.3% wage increase and a change to the company's profit-sharing bonus scheme. Under the revised plan, 40% of bonuses would be paid in cash and 60% in company shares.
The rejection comes as SK Hynix enjoys strong profits driven by surging demand for high-bandwidth memory (HBM) chips, which are essential for artificial intelligence applications. The company's financial performance has been robust, yet the narrow vote indicates significant worker dissatisfaction with the terms on offer.
The outcome leaves the two sides needing to return to negotiations, with the union's rejection signaling that members expect a more favorable package despite the company's recent success.