MOEA minister urges faith in chip industry

27 October, 2022

Courtesy of ICRT


Economics Minister Wang Mei-hua says investors should remain confident in Taiwan's semiconductor industry, as it plays a critical role in the global supply chain and there is no imminent drop in demand.


The statement comes after reports said that Taiwan Semiconductor Manufacturing Company (TSMC) could put some of its employees on furlough if the global economy continues to weaken.


However, Wang says those reports are based on an internal TSMC memo, in which the company was simply reminding its employees to take vacations due to work pressure over the past three years.


And Wang is stressing that it was "definitely not" an indicator of the weakness of the local semiconductor industry.


The economics minister is calling on investors to remain upbeat about the outlook for Taiwan's semiconductor industry - saying "Taiwanese suppliers play a critical role in the global supply chain and are irreplaceable."

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