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Taiwan's UMC hopes to settle U.S. trade-secret lawsuit soon

Reuters
·1-min read

HONG KONG (Reuters) - Taiwanese contract chipmaker United Microelectronics Corp (UMC) said on Thursday it hoped a business espionage lawsuit brought by the U.S. Department of Justice (DOJ) against the company could be settled soon.

UMC has been in talks with the DOJ and has submitted a proposal for the matter to be resolved, involving a settlement of $60 million, it said in a filing to Taiwan's stock exchange.

"UMC continues to discuss this case with the U.S. Department of Justice hoping to reach a conclusion as soon as possible," the chipmaker said in the filing.

The DOJ prosecuted an intellectual property theft case against UMC and Chinese memory manufacturer Fujian Jinhua Integrated Circuit Co Ltd (JHICC) in 2018, charging UMC with helping JHICC in an attempt to illegally acquire DRAM manufacturing technology from U.S. chipmaker Micron Technology Inc.

UMC shares closed up 5.3% at T$33 ($1.15), spurred by news the lawsuit might be settled soon. Taiwan's stock market ended up 0.3%.