Newly established Taiwan Memory Co (TMC, 台灣創新記憶體公司) filed its business plan with the Ministry of Economic Affairs to participate in a government project to restructure the dynamic random access memory (DRAM) industry, Vice Minister of Economic Affairs Hwang Jung-chiou (黃重球) said yesterday.
The ministry first raised the idea of setting up the TMC in March as part of efforts to consolidate Taiwan’s ailing DRAM industry. The company recently completed its establishment, with registered capital of NT$500,000 (US$15,250).
John Hsuan (宣明智), honorary vice chairman of United Microelectronics Corp (UMC, 聯電), was named chairman of the company, according to a document posted on the ministry’s Web site. Hsuan will hold 98 percent of the company’s paid-in capital, the data showed.
The document said four people were on the Hsinchu-based company’s board. Beside Hsuan, the other three directors are Compal Electronics Inc (仁寶) consultant Deng Ke-wen (鄧克文), UMC consultant Feng Tai-sheng (馮台生) and Silicon Integrated Systems Corp (矽統科技) finance director Eric Chen (陳進雙).
Under a project unveiled last month, the government will allocate a maximum of NT$30 billion to help one or two local DRAM companies to compete with their foreign counterparts, particularly those in South Korea.
The government is reviewing TMC’s application for public funding, Hwang said. He would not disclose the amount of investment requested by TMC.
“TMC is a bellwether, and we hope it will pass the screening,” Huang said.
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