UMC (United Microelectronics Corporation) has spent 613 million RMB (US$98.1 Million; US$1=6.248 RMB) to obtain a 33% stake in China's 12-inch wafer foundry United Semiconductor via its subsidiary Hejian Technology in China, reported Commercial Times on January 28. The investment is part of a joint venture between China's Xiamen municipal government and state-owned Fujian Electronics and Information Group. UMC will invest a total of US$1.35 billion in United Semiconductor in five years since 2015. The foundry is scheduled to launch operation in 2016, using 55-nano and 40-nano process technologies to run at a maximum capacity of 50,000 wafers per month.