Semiconductor firm King Yuan to hand out big pay raises: chairman
By Linger Liu,The China PostTAIPEI, Taiwan -- King Yuan Electronics Co. Ltd. will raise salaries by around 3 to 5 percent, its chairman said yesterday.
January 16, 2013, 12:00 am TWN
Lee Chin-kung (李金恭), 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. The value of Taiwan's currency has little effect on the cost of materials for producing electronic products, Lee added.
Paid Student Intern Program
Lee said around 54 paid student interns will join the company by the end of January. Each will be paid between NT$28,000 and NT$32,000 per month, which includes travel allowances for some of between NT$2,500 and NT$4,000. Their work week will stretch for four days.
Lee added that the company's production line would not close during Chinese New Year, noting that staff shifts will be determined in-line with client shipment requests.
A production plan for the holiday will be organized during the third and fourth week of January, said Lee, adding that on Chinese New Year's eve and Chinese New Year's day only half the machinery on the production line will be in use.
On the second day of the Lunar New Year production rates will be increased, said the chairman.