Granted the right to buy less than the market price as much as ‘200% of basic salary’
The index for calculating incentives is also clarified as’operating profit’
3 million welfare points paid
SK Hynix has decided to pay additional incentives in the form of allowing employees to buy treasury stocks cheaply. We plan to change the standard index for calculating incentive pay from’Economic Value Added (EVA)’ to operating profit.
SK Hynix headquarters in Icheon, Gyeonggi-do. yunhap news
SK Hynix announced on the 4th that it has agreed to improve the PS system and pay employee stock ownership to its members.
SK hynix plans to change the standard indicator of PS (excess profit distribution), that is, the calculation of incentives, from the existing EVA (economic value added) to operating profit, and discuss with employees next week. Meanwhile, SK Hynix executives and employees have argued that “the formula for calculating EVA is unclear.” SK hynix plans to increase the predictability by linking to’operating profit’, where the figures are clearly disclosed.
Based on the approval of the board of directors, the company decided to issue employee stocks to give employees the right to purchase them at a’cheaper’ than the market price. A specific plan is planned to be decided later. SK Hynix plans to provide employees with benefits equivalent to 200% of the basic salary. For example, if an employee with a base salary of 2 million won buys 10 million won worth of SK Hynix shares from the company, it will be sold for 6 million won off a 4 million won discount. It means to promote the future growth of the company by granting employee stock ownership to members. In addition, SK Hynix has decided to provide 3 million points of’Hi Well Points’, an in-house welfare point, to all employees.
President Seok-hee Lee (CEO) said, “We sincerely apologize for not being able to communicate enough so far.” “He said.
Reporter Hwang Jeong-soo [email protected]
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