FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: SK Hynix, Union Hold Fifth Round of Bonus Talks

By

SK hynix (KRX:000660) and its union are holding a fifth round of bonus negotiations on Tuesday at the company's Cheongju plant, Reuters News reported on the same day, citing a union note.

The dispute centers on the company's bonus structure, with last year's agreement entitling workers to 10% of annual operating profit, potentially averaging 779 million won per employee this year, the news wire said.

Management has proposed paying over half of bonuses in shares with a lock-up period and adjusting payouts during loss-making years, the publication said.

SK hynix did not respond to' request for comment, while the union could not immediately be reached 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.)

Related Articles

Asia

Hubei Dinglong to Allot 1 Billion Yuan for Wealth Management Products; Shares Jump 9%

Hubei Dinglong (SHE:300054) will allocate up to 1 billion yuan for the purchase of wealth management products using its idle funds, according to a Tuesday disclosure to the Shenzhen bourse.The wealth management products will help with the efficient use of capital, it said in the filing.Shares rose 9% during the midday break on Tuesday.

SHE:300054
Asia

Inspace Creation Bags Malaysia Distribution Rights to Novah Furniture Products

Inspace Creation (KLSE:INSPACE), through its subsidiary Image Articulation, has entered into a distribution agreement with office furniture company Novah, according to a Monday filing with Bursa Malaysia.Under the pact, Image Articulation will be the exclusive distributor of certain Novah-branded office furniture products within Malaysia.The agreement is initially for two years starting Aug. 1, and will be automatically renewed for an additional two years if Image Articulation achieves at least 80% of the applicable sales targets.

KLSE:INSPACE
Asia

Hanwha Aerospace Ends KRW455 Billion Supply Contract with UK's Vertical Aerospace

Hanwha Aerospace (KRX:012450) said it terminated a 454.8 billion won contract with U.K.-based Vertical Aerospace, according to a Tuesday filing with the Korea Exchange.The contract, signed in August 2022, involved the development and supply of electromechanical actuators, tilting systems and blade pitch systems for Vertical Aerospace's VX4 aircraft.The South Korean aerospace company said the decision was made by mutual agreement following changes in market conditions and business direction relative to the project's original objectives.Hanwha said the companies simultaneously signed a memorandum of understanding to maintain their cooperative relationship and lay the groundwork for future collaboration on similar projects.Shares of Hanwha Aerospace jumped over 10% in recent trade.

KRX:012450