SK Hynix Inc.'s labor union has voted against a tentative agreement that proposed salary increases and a partial bonus payout in company shares, according to Yonhap News.

Union members rejected the preliminary collective bargaining deal between union leadership and management, with 50.08% casting votes against the proposal, the local outlet reported, citing industry sources. The union, which has previously turned down such preliminary agreements in prior years, is anticipated to restart discussions with management, Yonhap noted.

The rejected proposal included a 6.3% salary hike and employee performance bonuses structured as 40% in cash and 60% in company stock. SK Hynix shares, which have dropped roughly 45% from their June peak, declined as much as 6.8% during Tuesday morning trading in Seoul.

A worldwide surge in AI spending is fueling intense internal debates across companies about how to distribute the gains from sudden wealth creation. SK Hynix's management and union leaders had spent weeks negotiating after the Korean chipmaker reported soaring profits driven by demand for high-bandwidth memory used in AI systems.