UMC names new CEO, retreats from “Virtual IDM”

July 24, 2003 – Taiwanese foundry United Microelectronics Corp. (UMC) has tabbed Jackson Hu as its new CEO, amid a restructuring that includes the abandonment of its “Virtual IDM” strategy. Hu, formerly the head of UMC’s new business development group, replaces Hohn Hsuan, who returns to his post as vice-chairman of the company.

UMC says it will shift away from the “Virtual IDM” strategy, although it will continue to operate as a pure foundry. The company plans to accelerate investments in its 300mm manufacturing facilities, increasing production by 2004 at its Fab 12A facility to 20,000 wafers per month, and to 10,000 wafers per month at UMCi, its joint venture with Infineon. UMC also stated that it would gradually divest itself of various investments in IC companies.


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