SK hynix production workers rejected a tentative 2026 wage and collective bargaining agreement by 25 votes after more than two months of negotiations. The vote ended with 7,535 opposed and 7,510 in favor, while turnout reached 93.81% among 16,083 union members. The proposed package combined a 6.3% wage increase with a plan to pay 40% of Excess Profit Distribution in cash and 60% in Treasury Shares. The rejection reflected opposition to changing last year’s commitment to pay 10% of operating profit in cash for 10 years. SK hynix and the production union must now renegotiate, with the cash-to-stock ratio expected to be the main issue. A separate technical and office workers’ union approved its agreement by 66%, but its smaller membership and separate bargaining process are unlikely to determine the production union talks. The dispute comes as profit-sharing demands spread across South Korean semiconductor, automotive and steel companies, while unions and employers debate how performance should be measured and whether stock-based compensation should be locked into long-term agreements.