TSMC's Global Reach Spurs Record Overseas Taiwanese Workforce

Taiwan Semiconductor Manufacturing Company's overseas expansion has led to a surge in the number of Taiwanese workers abroad, reaching 128,000 in the US in 2023. This growth is tied to new facilities in Arizona and Japan, amidst global economic shifts and pandemic recovery efforts.

Taiwan Semiconductor Manufacturing Company's (TSMC) global growth has generated a notable increase in the number of Taiwanese employees working overseas, with 128,000 employed in the United States in 2023, according to Taiwan News. This expansion includes upcoming plants in Arizona as TSMC strengthens its international operations.

The Directorate-General of Budget, Accounting, and Statistics (DGBAS) reported a four-year peak last year, with 621,000 Taiwanese working abroad. Tan Wen-ling, DGBAS Deputy Director, attributed this rise primarily to TSMC's global undertakings, particularly in Arizona and Japan. The resurgence of overseas Taiwanese workers is seen as a recovery from the pandemic-induced decline, aggravated by the US-China trade tensions and supply chain challenges.

From 2009 to 2019, the overseas Taiwanese workforce grew from 662,000 to 739,000, but plummeted to 319,000 in 2021 influenced by the pandemic. The recent rebound marks an increase of 148,000. Despite China's dominance with 217,000 Taiwanese workers in 2023, its share has dropped significantly. Other regions like Southeast Asia, Japan, and South Korea are gaining traction as attractive destinations due to shifting economic trends.

The ongoing international expansion of TSMC is predicted to further elevate Taiwanese workforce presence abroad. The initial Arizona plant is expected to commence production next year, with another planned for 2028. Meanwhile, TSMC's Kumamoto facility in Japan is set to begin operations by late 2024, with more projects on the horizon.

(With inputs from agencies.)