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UMC Corporate Governance Statement

United Microelectronics Corporation (UMC) bases its corporate governance structures and practices on Taiwan's Company, and Securities and Exchange Laws, and their related rules and regulations.
 
Audit Committee and Independent Directors
To comply with the corporate governance listing standard of the NYSE and the requirement of the Sarbanes-Oxley Act of 2002, UMC established an audit committee in March 2005. After the re-election of directors in the shareholders' meeting on June 12, 2006, the board of directors appointed Chung-Laung Liu, Chun-Yen Chang, and Paul S.C. Hsu to be the members of the audit committee. Each audit committee member is an independent director who is financially literate with accounting or related financial management expertise. Paul S.C. Hsu qualifies as an audit committee financial expert as defined under the listing standard. The audit committee meets as often as it deems necessary to carry out its responsibilities. For further information regarding UMC's audit committee and independent directors, please click on the links below:
   
   
 
> link to Audit Committee Charter
 
Supervisor
In Taiwan, the basic corporate governance organizational model is a two-tier structure that consists of a Board of Directors and Supervisors, both of whom are elected by shareholders. Supervisors are responsible for the effective monitoring of a company's board and management, and generally function in a capacity equivalent to the Audit Committee in the U.S.

Full Version
> Download UMC Corporate Governance Statement (pdf, 22.6kb)
Individual Sections
    The Board of Directors' Responsibilities and Meetings
    Supervisors' Responsibilities
    Structure of the Board of Directors and Supervisors
   
> Download Articles of Incorporation of UMC (pdf, 31kb)
> Download the UMC Code of Ethics for Directors, Supervisors and Officers
(pdf, 35kb)
> Download the UMC Employee Code of Conduct (pdf, 22kb)
> The differences between the UMC's corporate governance practices and those required of domestic companies under NYSE listing standards
Code of Conduct violations can be reported by e-mail or phone:
Email: whistleblower@umc.com
Phone: 0800-024-399 (toll free) or 03-5782258 ext.31425

 

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