TAIPEI (Taiwan News) - Taiwan Stock Exchange Corp. (TWSE) announced Friday a list of the top 50 best-paying TWSE/TPEx-listed companies of 2017, which not surprisingly included the country's tech giants MediaTek, Foxconn, Taiwan Semiconductor Manufacturing Co., and Largan Precision.
To address the low-pay epidemic in Taiwan, the country's financial authorities are planning to reveal names of the worst-paying listed companies in 2019. On Friday, a list of the top 50 best-paying companies was announced, as a precursor to a string of the government's wage increase initiatives.
The low-pay issue has been one of the biggest problems facing the administration of President Tsai Ing-wen. The Cabinet touted near-term and long-term solutions in May, including increasing the minimum wage for the lowest-paid public sector employees and contractors to NT$30,000 (US$1,008) per month "progressively. The Financial Supervisory Commission (FSC) is also rolling out measures to boost salary transparency and push listed companies to share earnings with their staff.
FSC said earlier that companies whose annual salary for workers is on average lower than NT$500,000 (US$16,730) a year, will be made known by the end of June next year.
According to the list, the 50 "best-paying" companies traded on the Taiwan Stock Exchange (TWSE) and the Taipei Exchange (TPEx) are: fabless semiconductor company MediaTek, Hotai Motor, Foxconn (Hon Hai Precision Industry), Foxconn Technology, Global Unichip Corp. (GUC), Realtek, Novatek Microelectronics, UPC Technology, TSMC, Elite Semiconductor Memory Technology, Faraday Technology, China Bills Finance Corp., Chicony Electronics, ASmedia Technology, Nien Made Enterprise, Wah Lee Industrial Corp., Sitronix Technology, Creative Sensor, Global Brands Manufacture, and Taiwan Styrene Monomer Corp.
Others on the list: Nanya Technology, Generalplus Technology, Winbond Electronics, ITE Technology, Orise Technology, ALi Tech, Qisda Corp., Supreme Electronics, engineering and construction firm CTCI, China Steel Corp., Acer, Quanta Computer, O-Bank, Altek Corp., Chicony Power, ASUS, Primax Electronics, Grand Pacific Petrochemical Corp., Taiwan PCB Techvest Co., Daxin Materials, China Steel Chemical, Elan Microelectronics, Largan Precision, Sunplus Technology, Formosan Union Chemical, motherboard manufacturer ASRock, Ennoconn Corp., Holtek Semiconductor, RichWave Technology, and CHC Resources Corp.
TWSE said the 50 best-paying companies paid their employees NT$1.44 to 2.87 million (US$47,200-94,200) on average last year, and 96 percent of these companies reported earnings last year. On the other hand, the 50 worst-paying companies paid their employees NT$0.30 to 0.48 million (US$9,842-15,748) during the same period of time, with 70 percent of them in profit last year. The name list of the worst-paying was not disclosed on Friday.