Taipei, July 26 (CNA) Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, said Friday that it will hire more than 3,000 people by the end of this year as part of its efforts to develop high-end technology.
TSMC said in a statement that the recruitment campaign will be launched in Hsinchu, where its headquarters are located, Taichung and Tainan.
Earlier this month, TSMC secured approval from the Environmental Protection Administration (EPA) for a project in which the chipmaker will build a research and development center in Hsinchu. TSMC said the construction of the R&D center is scheduled to begin by the end of this year.
In addition, the chipmaker is developing the 7 nanometer process and expanding production at its plant in the Central Taiwan Science Park in Taichung, and is also developing the 5nm process and has plans to build a 3nm process plant at the Southern Taiwan Science Park in Tainan.
The 7nm process is the latest technology for which TSMC has begun commercial production. Mass production of the 5nm and 3nm processes are expected to begin in 2020 and 2022, respectively.
TSMC said the recruitment campaign is aimed at hiring talent from different backgrounds, such as electronics, electrical engineering, mechanical engineering, optoelectronics, physics, chemistry, chemical engineering and industrial engineering, to move the semiconductor industry forward.
"This year, the company is continuing to develop new technologies and build capacity to help customers unleash innovation and create maximum value with a comprehensive portfolio of advanced logic and specialty technologies," TSMC said in the statement.
"Semiconductor technology continues to drive advancements in a wide range of applications, including 5G telecommunications, artificial intelligence, the Internet of Things, and automotive components," TSMC added.
According to TSMC, the median salary of the company's global payroll, excluding retirement payments and allowances, hit about NT$1.58 million (US$50,968) last year, while the median wage of non-manager employees in Taiwan totaled NT$2.009 million.
Meanwhile, five foreign brokerages have raised their target prices on TSMC shares after the chipmaker gave an upbeat guidance for the second half of this year in an investor conference held July 18.
TSMC said the company expects to see an 18 percent increase in sales for the third quarter compared with the second quarter.
In addition, while there has been uncertainty over the fourth quarter resulting from external factors, it still expects its fourth-quarter sales to continue to grow from the third quarter due to solid demand for 5G smartphones and high-performance computers.
In a research note, an Asian brokerage has raised its target price on TSMC shares from NT$239 to NT$325, the highest among the five foreign securities firms, while maintaining a "buy" rating on the stock.
TSMC shares closed down 1.51 percent to close at NT$261.00 on the Taiwan Stock Exchange Friday after the Philadelphia Semiconductor Index in the United States shed 1.72 percent overnight.