Market Overview

UMC and Avalanche Technology Partner for MRAM Development and 28nm Production


UMC will offer cost effective licensing of embedded 28nm non-volatile
MRAM macros to its foundry customers

United Microelectronics Corporation (NYSE:UMC, TWSE: 2303)) ("UMC"), a
leading global semiconductor foundry, and Avalanche Technology, Inc.,
the next generation STT-MRAM (Spin Transfer Torque Magnetic RAM) leader,
today announced that they have entered a partnership for joint
development and production of MRAM to replace embedded flash. UMC will
also make this technology available to other companies through licensing
with Avalanche Technology Inc.

Under the terms of the agreement, UMC will provide embedded non-volatile
MRAM blocks based on UMC's 28nm CMOS manufacturing process. This will
enable customers to integrate low latency, very high performance and low
power embedded MRAM memory blocks into MCUs and SoCs, targeting the
Internet of Things, wearable, consumer, industrial and automotive
electronics markets.

The two companies are also considering to expand the cooperation beyond
28nm, as Avalanche Technology's CMOS compatibility and scalability to
advanced process nodes enables integration of unified memory
(non-volatile as well as SRAM) blocks into next generation highly
integrated MCUs and SoCs. This allows system designers to maintain the
same architecture and software ecosystem without a redesign.

"We're excited to team with a world leader in semiconductor
manufacturing such as UMC to bring this outstanding technology to
market," said Petro Estakhri, CEO and co-founder of Avalanche Technology.

"UMC is continuously introducing enhanced process offerings to bring
added competitive benefits to our customers," said G C Hung, vice
president of Advanced Technology Development at UMC. "With embedded NVM
becoming more prevalent in today's IC designs, we have developed a
strong portfolio of robust eNVM process solutions for high growth
sectors such as emerging consumer and automotive applications. We are
happy to cooperate with Avalanche Technology for 28nm MRAM, and we look
forward to ramping this process to production for UMC customers."

About UMC

UMC (NYSE:UMC, TWSE: 2303)) is a leading global semiconductor foundry
that provides advanced IC production for applications spanning every
major sector of the electronics industry. UMC's comprehensive foundry
solutions enable chip designers to leverage the company's sophisticated
technology and manufacturing, which include world-class 28nm
High-K/Metal Gate technology, 14nm FinFET volume production, specialty
process platforms specifically developed for AI, 5G and IoT applications
and the automotive industry's highest-rated AEC-Q100 Grade-0
manufacturing capabilities for the production of ICs found in vehicles.
UMC's 11 wafer fabs are strategically located throughout Asia and are
able to produce nearly 600,000 wafers per month. The company employs
over 20,000 people worldwide, with offices in Taiwan, China, Europe,
Japan, Korea, Singapore, and the United States. UMC can be found on the
web at

About Avalanche Technology

Avalanche Technology Inc. is the leader in next generation Perpendicular
STT-MRAM technology, accepted as the front-runner to replace traditional
Flash and SRAM for unified memory architectures in future SOC systems,
delivering high performance, low power at 28nm with scalability to 22
and 14nm.

With a proven STT-MRAM portfolio at 55, 40nm and now enabling 28nm
combined with an intellectual property portfolio of more than 275
patents and applications, Avalanche Technology Inc. is the leader in
next generation perpendicular magnetic tunnel junction (MTJ) STT-MRAM
cells. Avalanche Technology is delivering on the promise of enabling the
next generation scalable embedded unified memory architecture for use in
GPUs, MCUs, DSPs, ASSPs and ASICs, making Avalanche Technology the "Next
Generation MRAM Company
". For more information, visit Avalanche
Technology online at

Note from UMC Concerning Forward-Looking Statements

Some of the statements in the foregoing announcement are forward looking
within the meaning of the U.S. Federal Securities laws, including
statements about future outsourcing, wafer capacity, technologies,
business relationships and market conditions. Investors are cautioned
that actual events and results could differ materially from these
statements as a result of a variety of factors, including conditions in
the overall semiconductor market and economy; acceptance and demand for
products from UMC; and technological and development risks. Further
information regarding these and other risks is included in UMC's filings
with the U.S. Securities and Exchange Commission, including its
registration statements and reports on Forms F-1, F-3, F-6 and 20-F and
6-K, in each case as amended. UMC does not undertake any obligation to
update any forward-looking statement as a result of new information,
future events or otherwise, except as required under applicable law.

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