The nation's financial regulator said United Microelectronics Corp (UMC) chairman Robert Tsao (
Wu Tang-chieh (
The government has been investigating UMC's relationship with China-based He Jian Technology (Suzhou) Co after the world's second-largest contract chipmaker admitted on Monday that it was about to obtain a 15 percent stake in He Jian in exchange for what the company described as "previous and future assistance."
Taiwan limits high-tech investments in China out of concern that companies there may take business away from the nation or steal technology.
Government approval
Taiwan Semiconductor Manufact-uring Co is the only Taiwanese chipmaker that has gained government approval to invest in China.
The bureau also wants to know how the company determined the value of He Jian's compensation to UMC.
But the Securities and Futures Bureau said no decision had been made about when the regulator would interview Tsao.
No idea
UMC yesterday said it had no knowledge of Tsao's whereabouts after media reports said he had left the country.
``I don't know'' where Tsao is, company spokesman Alex Hinnawi said by telephone.
UMC shares, the most active stock yesterday, fell 2.1 percent to close at NT$18.60. It fell to a new 52-week intraday low of NT$18.35 before rebounding slightly at the close.
Tsai Tien-yuan (蔡添源), who is handling the case at the Hsinchu Prosecutor's Office, said yesterday that four He Jian engineers would be summoned.
He said that since questioning began last Wednesday, a total of 15 He Jian engineers had assisted the prosecutors.
In 2003, around 100 ex-UMC employees were hired by He Jian Technology.
Tsao said in a letter to UMC shareholders published in major newspapers on Monday that the two companies had a verbal agreement that He Jian would provide "reasonable compensation" for assistance provided by UMC and would negotiate a merger.
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