SK Hynix (SKHY.US) reaches agreement with union: profit-sharing bonuses changed to 50% cash + 50% stock

Zhito Finance APP has learned that SK Hynix (SKHY.US), the world's second-largest memory chip manufacturer, has reached an agreement with its labor union to pay half of its profit-sharing bonus in cash, thereby resolving a dispute that could have disrupted its production. SK Hynix said in a statement on Wednesday that about 57% of the labor groups approved the revised wage and collective bargaining agreement. Under the latest agreement, 50% of the profit-sharing bonus will be paid in cash and the other 50% in company stock, replacing the previously proposed plan of 40% cash and 60% stock. The company's stock price rose more than 2% in the Seoul market.