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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] SK hynix has proposed a major revision to its performance-based compensation structure, including raising the cap on annual performance bonuses (PS: Profit Sharing) from 1,000% to 1,700% of base salary, according to industry sources on June 27.
During the eighth round of collective wage negotiations held on June 26 at its Cheongju campus, SK hynix and the company’s labor union discussed revisions to the criteria governing the company’s annual performance bonus system.
Under the current policy, SK hynix allocates 10% of its annual operating profit toward the PS pool, which is distributed once a year based on both company performance and individual evaluations. The maximum bonus is currently set at 1,000% of base salary (equivalent to 50% of annual salary).
In 2023, SK hynix paid out PS bonuses of 1,000%, an additional special performance bonus of 500%, and 30 shares of company stock per employee. The union has since demanded the establishment of a new framework for allocating excess profit beyond the existing PS cap.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
