SK Hynix to Give 15 Treasury Shares and 2 Million Won Incentive Bonus

by Kim Pyeonghwa

Published 25 Jan.2024 11:19(KST)

Updated 25 Jan.2024 13:46(KST)

Overcoming Difficult Business Environment Leads to Increased Corporate Value

SK Hynix will provide employees with a special bonus of 2 million KRW and 15 shares of company stock as performance incentives.

On the 25th, SK Hynix announced, "We have decided to grant 15 shares of company stock and a bonus of 2 million KRW to members who overcame difficult management conditions and led a significant increase in corporate value." The bonus will be paid on the 29th, and the company shares will be distributed at the end of next month after completing the necessary procedures.

SK Hynix Icheon Campus Entrance / Photo by SK Hynix

SK Hynix disclosed that it has decided to dispose of company shares worth 67.2 billion KRW to pay employee bonuses.

SK Hynix will dispose of 477,390 common shares at an off-market price of 140,800 KRW per share, with a total disposal amount of 67,216,412,000 KRW.

The payment targets are 31,826 employees excluding executives, and the number of employees may vary.

As a result of this stock grant decision, each employee is expected to receive 15 shares, equivalent to approximately 2,112,000 KRW worth of stock.

SK Hynix stated, "The company shares are provided to encourage members, who are the core competitiveness of the company, to participate in enhancing future corporate value," adding, "This aligns with the recent ambition expressed by CEO Kwak No-jeong to achieve a corporate value of 200 trillion KRW within three years."

It continued, "Unlike the members, the company has decided to defer all decisions regarding executives’ salaries and other treatments this year, following last year, until the company achieves a clear and continuous return to profitability," adding, "We will continue to lead crisis overcoming through leaders’ exemplary actions."