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September 20, 1998

UMC PULLS OUT OF TAIWAN INVESTMENT

By CBR Staff Writer

Taiwan, the East-Asian country hardest hit by the continued slump in the semiconductor market, is to feel a further pinch now that United Microelectronics Corporation (UMC) has decided to pull out of a $15b investment, according to the Register. The company decided not to build the planned fabrication plants due to the current oversupply problem in the chip industry.

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