News

UMC Announces the Establishment of New Business Development Center

September 03, 2009 by Jeff Shepard

United Microelectronics Corp. has approved the establishment of New Business Development Center and its 100% owned subsidiary, UMC New Business Investment Corp.. Wen Yang Chen, Senior Vice President of UMC, will be responsible for New Business Development Center.

UMC established the center to capitalize in high growth and high profit potential industries through timely strategic investment. UMC states that this will bring new momentum for it to further grow and enhance UMC’s future asset turnover and profitability. Capital for UMC’s 100% owned subsidiary, UMC New Business Investment Corp., is expected to reach NTD 1.5 billion. The company will invest based on the research and evaluation performed by UMC New Business Development Center. In the future, the company will acquire absolute majority of the investees’ shares and aggressively participate in the decision-making process and operation of the invested companies.

Wen Yang Chen, UMC Senior Vice President, is currently responsible for operations and sales of UMC’s 8-inch (including 6-inch) fabs. He will also be responsible for the operation of UMC New Business Development Center, which will allow him to leverage his extensive experiences in the semiconductor industry to conduct evaluations on various investments, and the integration, management and utilization of human resources, technology and capital.