|Founded||1983 as Hyundai Electric Industry
2001 as Hynix Semiconductors2012 as SK hynix
|Headquarters||Icheon, South Korea|
|Seok-hee Lee (CEO)|
|Products||DRAM, NAND flash|
|Revenue||US$35.27 billion (2018)|
|US$18.34 billion (2018)|
|US$13.67 billion (2018)|
|Total assets||US$56.08 billion (2018)|
|Total equity||US$41.22 billion (2018)|
Number of employees
|Korea: 22,254 (2016)|
SK hynix Inc. is a South Korean supplier of dynamic random-access memory (DRAM) chips and flash memory chips. Hynix is the world's second-largest memory chipmaker (after Samsung Electronics) and the world's third-largest semiconductor company. Founded as Hyundai Electronic Industrial Co., Ltd. in 1983 and known as Hyundai Electronics, the company has manufacturing sites in Korea, the United States, mainland China and Taiwan. In 2012, when SK Telecom became its major shareholder, Hynix merged with SK Group (the third largest conglomerate in South Korea).
The company's major customers include Microsoft, Apple, Asus, Dell, MSI, HP Inc., and Hewlett Packard Enterprise (formerly Hewlett-Packard). Other products that use Hynix memory include DVD players, cellular phones, set-top boxes, personal digital assistants, networking equipment, and hard disk drives.
Hynix produces a variety of semiconductor memories, including:
According to SK Hynix's "Annual Salary Rules", the employment rules for office workers, employees are to be paid from 90% to 110% of the contract wage depending on their annual evaluation. However, a so-called "Self-Design" system was introduced in 2018, allowing managers to adjust each employee's salary. Under this system, differences in wages between departments and individuals can occur even if they receive the same evaluation. It is a zero-sum where the head of the organization distributes a limited budget to his employees. Under this wage system, only 60 percent of the annual salary is guaranteed. It has been reported[by whom?] that a majority of employees in a specific department received less than 90% of the contract salary.
In 2020, SK Hynix Labor Union submitted a petition to the Gyeonggi Provincial Labor Relations Commission and sent an official letter to the company. In response, the company held a briefing session on the "Self-Design" system and tried to ask the consent of employees. The briefing session and consent process has many procedural defects, which caused more controversy.
When the above-mentioned pay-cut became controversial, SK Hynix held a briefing session to ask consent of the employees. It transpired that:
Workers who have been disadvantaged by wage cuts due to changes in the company's employment rules can later claim the amount of their lost wages to the company. In addition, according to the Supreme Court's ruling, even if the employment rules are changed later through due process, favorable contents in the previous labor contract shall prevail for workers who do not agree to change the employment rules.
In January 2021, employees complained about the decision to pay a bonus of 20% of their annual salary. This is because performance-based bonuses were less than half of Samsung Electronics' peers. Samsung Electronics' sales and operating profit are far above SK Hynix's, so there is no reason to pay the same performance-based bonus simply because of its increased operating profit, but the amount of performance-based bonus has not changed at all compared to 19 years. Sales and operating profit increased by 18.2% and 84.3% compared to 19 years, but the scale of performance-based bonuses has been set due to the management's unilateral notification.
Due to the nature of the semiconductor industry, which is actively moving to the same industry, attracting manpower is important, but due to the reform of various wage systems, there has been a controversy over performance-based pay.
Hyundai, the South Korean maker of one of the hottest and cheapest compact cars on sale in the United States, is beginning to hawk its Blue Chip Computer in more than 500 discount stores nationwide. The unit is compatible with the IBM PC-XT.
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