South Korean chipmaker SK Hynix saw its shares fall 3.6% to ₩1,611,000 on Tuesday after a majority of the 15,045-strong union voted against a tentative wage agreement.
The union, which represents workers at SK Hynix, rejected the proposal that included a 6.3% wage increase and a revised profit-sharing bonus scheme. Under the proposed changes, 40% of bonuses would be paid in cash while 60% would be distributed in stock, according to a report by Reuters.
The rejection comes as SK Hynix and rival Samsung Electronics face heightened scrutiny over profit distribution plans amid strong earnings driven by artificial intelligence demand. Samsung’s measures, disclosed earlier in the week, failed to meet market expectations, contributing to a decline in both companies’ shares on Monday.
Broader market conditions added pressure, with chipmaking and AI-linked equities under pressure ahead of Nvidia’s upcoming earnings report. The KOSPI index fell approximately 3% on Tuesday, reflecting the sector-wide volatility.
The union vote, in which just over 50% of workers opposed the deal, underscores ongoing labor negotiations at a time when SK Hynix is navigating both operational challenges and investor expectations.
