Jan 21, 2023 03:15 AM

BUSINESS

Taiwan Fines Foxconn $329,000 for Unauthorized Unigroup Investment

By Liu Peilin and Denise Jia

Foxconn bought a 9.8% indirect stake in Unigroup for $772 million in July 2022.

Foxconn bought a 9.8% indirect stake in Unigroup for $772 million in July 2022.

Taiwan authorities fined Foxconn NT$10 million ($329,000) for making an unauthorized investment in Chinese mainland semiconductor company Tsinghua Unigroup Co. Ltd.

Foxconn’s China-traded unit Foxconn Industrial Internet acquired a 9.8% indirect stake in Unigroup for 5.38 billion yuan ($772 million) in July but sold the stake in December after opposition from the Taiwan government.

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