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UMC gave NT$10,000 worth of bonuses each to its 20,000 employees worldwide

United Microelectronics Corp. (UMC), the second largest contract chipmaker in Taiwan, announced on its sports and family day on Saturday that it will give NT$10,000 (US$344.8) in bonuses to each employee as part of the special event.


Currently, UMC has almost 20,000 employees worldwide, so the tech giant is expected to pay about NT$200 million (US$6.9 million) for the special bonuses.


Addressing the event, which was held in Hsinchu and attended by 3,000 of its employees, UMC Chairman Stan Hung said the company has grown rapidly over the past 40 years, expanding from a small pure-foundry fab with only 400 employees four decades ago to now owning 12 wafer fabs in Taiwan, China, Singapore and Japan.


Hung said the achievements were the result of the efforts and contributions of all of its employees.


In the third quarter of this year, UMC posted NT$9.11 billion in net profit, a quarterly record high in more than 14 years, which was also up 36.3 percent from a year earlier.


In addition to an increase in demand for computers and other tech products due to the booming stay-at-home economy, UMC also benefited from a disposal of a solar energy subsidiary in the quarter.


In the first nine months of this year, UMC's net profit stood at NT$17.99 billion, up 206.5 percent from a year earlier.


Hung said UMC has made plenty of efforts to strengthen its financial structure by expanding capacity for highly competitive products and will continue to do so.


He said 5G applications have been creating good business opportunities for the semiconductor industry so UMC is determined to invest more for a higher market share. -Central News Agency, Photo Nikkei Asia

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