Feeds

UMC HQ raided in China investment probe

Foundry chiefs' homes searched too

  • alert
  • submit to reddit

Build a business case: developing custom apps

Officials from Taiwan's Ministry of Justice (MoJ) have raided the homes of key UMC staffers as part of an investigation into investments made by the chip foundry in China.

Investigators also entered UMC's HQ and took away a number of documents.

The raids, reported by Chinese-language newspaper the United Daily News (UDN) this morning, were prompted by claims that UMC's, the world's second largest semiconductor foundry, may have invested in one or more Chinese companies without first winning the Taiwanese government's thumbs-up.

Taiwanese law forbids local businesses from expanding into mainland China without the approval of the island's administration. Local firms must also declare any investments they make in Chinese companies.

While the MoJ has confirmed the existence of the investigation and the raids, it has so far refused to provide details of UMC's alleged transgression.

UDN sources, however, claim that UMC vice-chairman John Hsuan was one of those whose homes were raided. Documents filed by UMC with the Taiwanese Stock Exchange suggest the case may centre on an investment UMC is alleged to have made in a Chinese company called Hejian Technology. Both firms deny such a relationship exists between them. ®

Related stories

UMC Q4 income plummets on inventory adjustments
SMIC coughs $175m to settle espionage allegations
Toxic gas leak at TSMC fab hospitalises 21
TSMC Q4 decline mirrors chip market
iSuppli cuts 2005 chip sales growth target
Chips are down for Taiwan foundry giants

The essential guide to IT transformation

More from The Register

next story
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?