SK Hynix Workers Reject Wage Deal by 25 Votes

Workers at SK Hynix, the world’s second-largest memory chipmaker, narrowly rejected a tentative wage agreement on Tuesday, sending the company’s shares lower and sending management and the union back to the negotiating table. The vote, which followed two months of negotiations, was decided by a margin of just 25 ballots. According to official results, 7,535 union members, or 50.08% of those who voted, opposed the deal, while 7,510 supported it. Turnout was high, with 15,045 of the union’s 16,083 members casting ballots. The agreement had proposed a 6.3% salary increase and a significant restructuring of the company’s performance bonus system.