Newspaper article China Post

Semiconductor Firm King Yuan to Hand out Big Pay Raises: Chairman

Newspaper article China Post

Semiconductor Firm King Yuan to Hand out Big Pay Raises: Chairman

Article excerpt

(ProQuest: ... denotes non-USASCII text omitted)

TAIPEI, Taiwan -- King Yuan Electronics Co. Ltd. will raise salaries by around 3 to 5 percent, its chairman said yesterday.

Lee Chin-kung ([...]), chief of Taiwan's top producer of semiconductors, said the company made an annual profit of around NT$72 million last year.

The chairman said the company has a tradition of adjusting monthly salaries every year on April 1. The annual salary adjustment has been practiced since 2000, said the chairman, adding that from 2001 to 2009 the company did not raise salaries.

Lee said that staff who perform above average may enjoy a further hike in their salary.

Lee noted that the yen's recent depreciation has helped the firm's exports to Japan, while the U.S. dollar's growing strength has helped the firm boost its profits.

Lee said that profits from foreign currency exchanges connected to exports reached NT$95 million in 2011, while last year such profits were NT$72 million. …

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