UMC Earns Highest Ranks in Corporate Governance Evaluation for 4th Consecutive Year
Hsinchu, Taiwan, May 29, 2018 – United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) ("UMC"), a leading global semiconductor foundry, today announced that it was ranked in the top 5% of companies for Corporate Governance Evaluation by the Taiwan Stock Exchange and Taipei Exchange. UMC was presented with the award during the 4th annual Corporate Governance Evaluation hosted by the two local exchanges (bourses), with UMC's CFO Chitung Liu accepting the honor on behalf of the company. The final 43 publicly and 34 TPEx listed companies were selected from a total of 1,536 listed companies that were reviewed. UMC was one of 16 companies appearing in the top 5% of rankings for four consecutive years since the inception of the Corporate Governance Evaluation.
UMC has long pursued sustainable environmental and social development and continues to support a corporate sustainable policy that supports long-term shareholders' value creation. UMC set up a nomination committee in 2017 aimed to enhance the management mechanism and to improve corporate governance for the company's sustainable development. The nomination committee was approved by the board of directors and is composed of independent directors, illustrating the stringent corporate governance oversight designed to protect the interests of stakeholders.
In addition to the Corporate Governance Evaluation, in 2017, UMC was also selected as a Dow Jones Sustainability Index (DJSI) component for the tenth straight year. The company was also awarded with the “Enterprise Environmental Award of the Republic of China”by the Environmental Protection Administration of the Executive Yuan, R.O.C. for 15 consecutive years. UMC has been awarded by multiple media organizations for its corporate sustainability achievements as the company continues its commitment and dedication to help protect the environment and preserve sustainable development for upcoming generations.
CFO Liu said, “Looking towards the future, UMC will continue to set higher standards in corporate social responsibility and instill corporate governance principles within the company's culture. We will continue to live up to our promises to stakeholders, as we uphold the highest responsibility to ensure a prosperous environment so that we may share the wealth of our society with the people of Taiwan.”
About Corporate Governance Evaluation
Corporate governance was set up in December 2012 as part of the “Corporate Governance Roadmap” promotion by the Financial Supervisory Commission. The purpose of this project is to reward outperformers and encourage benchmarking: full information disclosure, active participation in corporate governance, aligning with international standards and improve capital market quality. The evaluation process is designed with six categories of indicators including protecting shareholders' rights and interests, while treating all shareholders equitably, enhancing board composition and operation, increasing information transparency and putting corporate social responsibility into practice and extra credit indicators as evaluation metrics.
UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor foundry that provides advanced IC production for applications spanning every major sector of the electronics industry. UMC's comprehensive foundry solutions enable chip designers to leverage the company's sophisticated technology and manufacturing, which include high volume 28nm High-K/Metal Gate technology, 14nm FinFET mass production, ultra-low power platform processes specifically developed for Internet of Things (IoT) applications and the automotive industry's highest-rated AEC-Q100 Grade-0 manufacturing capabilities for the production of ICs found in vehicles. UMC's 11 wafer fabs are strategically located throughout Asia and are able to produce nearly 600,000 wafers per month. The company employs over 20,000 people worldwide, with offices in Taiwan, China, Europe, Japan, Korea, Singapore, and the United States. UMC can be found on the web at http://www.umc.com.
Note from UMC Concerning Forward-Looking Statements
Some of the statements in the foregoing announcement are forward looking within the meaning of the U.S. Federal Securities laws, including statements about future outsourcing, wafer capacity, technologies, business relationships and market conditions. Investors are cautioned that actual events and results could differ materially from these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy; acceptance and demand for products from UMC; and technological and development risks. Further information regarding these and other risks is included in UMC's filings with the U.S. Securities and Exchange Commission, including its registration statements and reports on Forms F-1, F-3, F-6 and 20-F and 6-K, in each case as amended. UMC does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.