SK Hynix Union Workers to Revote on Temporary Wage Deal Next Week

According to Sina Finance, SK Hynix union workers will hold a revote next week on a temporary wage agreement that was rejected three weeks ago. The vote will begin next Tuesday and run for two days. The union is scheduled to hold a delegates' meeting on Thursday, when it is expected to disclose changes in the new temporary agreement compared with the previous version. Last month, the union rejected an earlier temporary deal reached with the company. Under that agreement, SK Hynix and the union had agreed to raise base pay by 6.3% and create a new plan for company performance bonuses. Under the plan, 40% of the performance bonus would be paid in cash and the remaining 60% in company stock. Of the stock portion, 40% could be sold in the year it is granted, while the remaining 20% would be deferred and paid out over two years at 10% each time.