South Korea's SK Hynix union approves tentative wage deal with management

SEOUL, Sept 16 (Reuters) - SK Hynix's South Korean union has approved a tentative wage agreement with management, the chipmaker said on Wednesday, ending weeks of uncertainty after workers narrowly rejected an earlier deal.

The agreement is expected to formally conclude this year's wage and collective bargaining negotiations at the world's second-largest memory chipmaker.

"We thank the labour union and our employees for working with us throughout this challenging process," SK Hynix said in a statement.

SK Hynix reported record second-quarter operating profit of 60.54 trillion won ($44.19 billion) as demand for AI-related memory chips boosted earnings.

The compensation framework allocating 10% of operating profit to employee profit-sharing bonuses was hailed as a landmark labour agreement when introduced.