Market Chatter: SK hynix, Union Reach Tentative Bonus, Wage Deal

MT Newswires Live16:35

SK hynix (SKHY) and its labor union reached a tentative agreement to pay 60% of the chipmaker's profit-sharing bonuses in company shares, The Korea Herald reported Thursday.

The proposed deal, which also includes a 6.3% wage increase, shifts from last year's all-cash framework by distributing 40% of the bonus in cash and the remainder in stock, the news outlet reported.

Shares of the company rose more than 3% in Thursday premarket activity.

SK hynix did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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