TAIPEI (Taiwan News) — The salaries of TSMC’s top bosses increased by more than 50% last year as its two leaders received more than NT$600 million (US$19.57 million) each in take-home pay.

The Taiwan semiconductor giant will hold a shareholder meeting on June 6, and an agenda was uploaded on Friday (May 5) revealing Chairman Mark Liu (劉德音) and CEO C. C. Wei’s (魏哲家) salaries, per CNA. Liu’s salary increased NT$231 million to NT$632 million, while Wei’s increased NT$243 million to NT$643 million.

TSMC’s revenue exceeded NT$2.26 trillion and accounted for 30% of global semiconductor output in 2022.

The news comes as the Ministry of Labor announced plans to combat Taiwan’s persistently low wages for young people. According to 2022 data, the average Taiwanese worker would have to work for over 1,284 years to earn the same amount of money as Liu earned in 2022 alone.