[Exclusive] SK Hynix to Give All Employees a 300% Special Performance Bonus

Intel Acquisition and This Year's Sales Performance Reflected in Special Bonus Payment

[Image source=Yonhap News]

[Asia Economy Reporter Lee Hye-young] SK Hynix will provide special performance bonuses to all employees.

According to industry sources on the 30th, SK Hynix has decided to pay a special performance bonus equivalent to 300% of the base salary to all employees currently employed as of the 31st.

For mid-term hires or those on leave, the payment will be prorated based on the period of employment, and those who started work on the first day of January this year will receive 100% of the performance bonus.

This special performance bonus was decided to boost employee morale and celebrate SK Hynix's strong annual performance, including completing the first phase of acquiring Intel's NAND flash business division and achieving a record high quarterly sales of 11.8053 trillion KRW in the third quarter of this year.

SK Hynix stated, "Despite the challenging external environment this year, including COVID-19, we decided to provide a special performance bonus as a token of appreciation to the members who contributed to excellent performance."

Meanwhile, SK Hynix announced on the same day that it has completed the necessary procedures to acquire Intel's assets and named the newly established U.S. subsidiary that will operate Intel's solid-state drive (SSD) business 'Solidigm.'

SK Hynix will pay Intel $7 billion out of the total contract amount of $9 billion (approximately 10.7 trillion KRW) in the first phase. Around March 2025, the remaining $2 billion will be paid in the second phase, after which all related tangible and intangible assets, including NAND wafer R&D and Dalian fab operational personnel, will be transferred. This point will mark the final completion of the acquisition contract.

SK Hynix Vice Chairman and CEO Park Jung-ho said about the Intel acquisition, "We welcome all Solidigm members who have become new family members of SK Hynix," adding, "This acquisition will be an opportunity for SK Hynix's NAND business to leap to a global top level, and through this, the company will establish itself as a truly world-class technology company."

This content was produced with the assistance of AI translation services.