SK hynix (SKHY) and its labor union reached a tentative agreement to pay 60% of the chipmaker's profit-sharing bonuses in company shares, The Korea Herald reported Thursday.

The proposed deal, which also includes a 6.3% wage increase, shifts from last year's all-cash framework by distributing 40% of the bonus in cash and the remainder in stock, the news outlet reported.

Shares of the company rose more than 3% in Thursday premarket activity.

SK hynix did not immediately respond to MT Newswires' request for comment.

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