Nearly 4,000 employees of South Korean memory chip giant SK Hynix have joined a new union within days, representing approximately 11% of the company’s 35,000-strong workforce. This rapid mobilization follows five rounds of stalled wage negotiations, with workers opposing management’s proposals to modify the profit-sharing agreement signed in 2025, which provided bonuses equivalent to 2,964% of monthly base salary. The company wants to replace part of the cash bonuses with stock-based compensation and introduce temporary wage adjustments during loss years. To negotiate as the representative union for the entire company, the new union must reach 18,000 members, the legal majority threshold it currently appears unable to achieve before the end of the current bargaining cycle.
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