Tax Payment, Dividend Payouts, Donations Shrink
SK Hynix's social value (SV) created in 2019 has decreased by more than 6 trillion won compared to 2018. As semiconductor market conditions deteriorate, tax payment, dividends, and donation activities shrank due to decreased sales.
SK Hynix announced on June 4 that its social value generated in 2019 hit 3,588.8 billion won, down 63 percent from 9,617.9 billion won a year earlier.
Indirect economic contributions such as tax payment, employment, and dividends amounted to 4.593 trillion won, down 60 percent (5.9953 trillion won) from 2018. In particular, worsening semiconductor market conditions pushed down the tax payment sector 92 percent, the biggest drop, on year in 2019.
Its social performances in the labor and environment sectors arrived at 539.8 billion won in losses in 2019, resulting in a higher deficit. Analysts say that greenhouse gas emissions and the use of power resources increased due to the expansion of semiconductor factories and increased production, resulting in more negative effects in the environment sector. In 2019 its social contributions amounted to 69.3 billion won, slightly down from 75.6 billion won in 2018.
On the other hand, its shared growth performance grew 36 percent on year to 167.1 billion won in 2019 through the expansion of semiconductor education and employment support programs for its partners and payment of 28.9 billion won in special production incentives for contractors. Domestic employment also rose by 3,186 people (11 percent) compared to 2018, with the number of employees crossing 30,000 at the end of 2019 and expanding to 31,508.