$SK hynix(SKHY)$  Not worried about the vote. Note that this was not about wages, but about profit sharing bonuses. Rejection of a tentative labor deal is not unprecedented at SK Hynix. The union previously rejected initial management-union agreements in both 2023 and 2024. In both cases, management and labor resumed discussions and reached a revised deal without triggering a production stoppage or full-scale strike.

The most likely scenario is a peaceful renegotiation, with an 80-85% probability. Both sides return to the bargaining table to adjust the cash-to-stock ratio for the performance bonus, such as increasing the cash allocation to 60-80%. A second tentative agreement is put to a vote and passes.

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