UMC reaches settlement in U.S. class action suit
05/05/2021 07:21 PM
From UMC s website
Taipei, May 5 (CNA) United Microelectronics Corp. (UMC) has reached a settlement to resolve a class action suit filed by its American depositary receipt (ADR) investors related to an earlier lawsuit accusing the Taiwanese company of violation of trade secrets protection in the United States.
In a statement released on Tuesday, UMC, the second-largest contract chipmaker in Taiwan, said it is paying the plaintiffs US$3 million to end the litigation and that the funds will be partly used to pay the plaintiffs legal bills and other expenses.
UMC said the U.S. District Court for the Southern District of New York issued a green light for the settlement agreement on Monday.
Executive Yuan eyes espionage curbs
STEM THE TIDE: From 2013 to October last year, 47 of the 129 breaches of the Trade Secrets Act led to Taiwanese trade secrets reaching Chinese industries, a legislator said
By Lee Hsin-fang and Jason Pan / Staff reporters
The Executive Yuan is considering measures to prevent Chinese commercial espionage and the poaching of core technologies, especially in semiconductors and information technology, sources said.
The Executive Yuan is considering amendments to the National Security Act (國家安全法) and the Trade Secrets Act (營業秘密法) to respond to increasing reports of Chinese firms recruiting Taiwanese and stealing core technologies, the sources said.
Although Taiwan prohibits firms from China from doing business or recruiting locally without prior approval, some companies conceal their Chinese ownership to recruit workers, they said.
The Straits Times
Beijing has pledged to develop its own advanced chip manufacturing.PHOTO: REUTERS
PublishedMar 10, 2021, 5:01 pm SGT
https://str.sg/JjYC
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Mar 11 2021, 7:05 AM
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March 11 2021, 7:05 AM
(Bloomberg) An investigation into illegal talent poaching by Beijing-based Bitmain Technologies Ltd. has revived fears Chinese companies will target Taiwanâs top engineers as their country works to build a world-class chipmaking industry.
(Bloomberg) An investigation into illegal talent poaching by Beijing-based Bitmain Technologies Ltd. has revived fears Chinese companies will target Taiwanâs top engineers as their country works to build a world-class chipmaking industry.
Investigators descended on the offices of Bitmainâs two Taiwan units and interviewed 19 people Tuesday in a probe into whether the crypto-mining startup had violated local laws, according to Chang Jui-chuan, a spokeswoman for the New Taipei District Prosecutors Office. The Chinese firm, which develops semiconductors for mining and other purposes, is suspected of illegally recruiting hundreds of engineers from Taiwanese firms