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SK Hynix. (Photo=SK Hynix) |
[Alpha Biz= Reporter Kim Jisun] The SK Hynix labor union has finalized its demand for this year’s wage and collective bargaining negotiations, which includes an 8% wage increase. The labor and management are expected to start this year’s negotiations soon based on this proposal.
According to industry sources on the 26th, the union of SK Hynix's Icheon and Cheongju plants, under the Federation of Korean Trade Unions, shared the '2024 wage and collective bargaining proposal' with union members and conducted a vote, which resulted in the approval of the proposal.
Typically, wage negotiations at SK Hynix are conducted separately for production workers and technical office workers. The union of production workers and the company plan to hold an initial meeting for wage negotiations on the 27th, while it is reported that the office workers' union held their initial meeting on the same day.
Last year, due to the semiconductor industry downturn, both production and technical office workers only saw a 4.5% wage increase. However, this year, with improvements in the market and company performance, the increase rate is expected to be higher.
The union of production workers is demanding a total wage increase of 327,756 KRW, which includes an average job-based pay increase of 240,000 KRW (combination of fixed amount and percentage increase) and an average seniority pay increase of 87,756 KRW. Considering the current average job-based pay of production workers (2,960,136 KRW), this equates to an 8% increase based on the end of last year. This figure reflects the 2% pre-increase made earlier this year. The annual salary of SK Hynix production workers consists of job-based pay, seniority pay, and performance pay. The basic salary includes job-based pay and seniority pay, while performance pay is distributed in June and December.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
