SK Hynix to Pay 'Special Contribution Bonus' Instead of Performance Bonus... 400% of Base Salary to Be Paid Tomorrow
[Asia Economy Reporter Kim Hyewon] SK Hynix will pay employees a 'special contribution bonus' equivalent to 400% of their base salary instead of performance bonuses.
On the 30th, SK Hynix announced, "Despite the deterioration in business performance, we have achieved visible results such as technological advancement, successful investment in various infrastructures, establishment of a safety culture, and social value (SV). Therefore, we have decided to pay a 'Future Growth Special Contribution Bonus' of 400% to our members on the 31st."
Due to poor performance caused by last year's semiconductor downturn, the performance bonus based on annual results, the Profit Sharing (PS), will not be paid this year. Instead, a special bonus was created to boost morale and encourage employees. This contrasts with 2018, when the company achieved record-high performance and paid performance bonuses including PS at 1000% and a special contribution bonus at 500% last year.
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The Productivity Incentive (PI), paid in the first and second half of the year based on productivity targets, was given at 100% of the base salary (200% annually) as usual last year.
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