TAIPEI (TVBS News) — A Taiwanese insurance company defied city officials Thursday (Oct. 16) by holding a groundbreaking ceremony for sites designated as NVIDIA's future Taiwan headquarters. The move escalated a high-stakes dispute over prime technology park land. Shin Kong Life Insurance (新光人壽) conducted the ceremony at Beitou-Shilin Technology Park (北士科), Taiwan's major tech development zone, despite ongoing negotiations where both Taipei officials and the American chipmaker want the company to relinquish its development rights.
City officials condemned the ceremony as a potential "fake" event, while company executives defended their actions as culturally appropriate and legally compliant. Welch Lin (林俊維), president of TS Financial Holding Co. (台新新光金控), Shin Kong Life's parent company, said the ceremony followed "legal requirements and Taiwan's folk customs" and was held on an auspicious lunar calendar date. Lin stated the compensation dispute was strictly between his company and NVIDIA, declaring "Shin Kong Life never intended to get a penny from the Taipei City government."
The insurance company won surface rights to the contested plots through public bidding in 2021, before artificial intelligence's explosive growth transformed development requirements. Shin Kong Life modified architectural designs to align with AI industry trends and obtained construction licenses after multiple government reviews. Company officials rejected allegations of construction delays, noting they received required permits only on Oct. 9.
Lin expressed willingness to negotiate with city officials by Oct. 24, while Taipei Mayor Chiang Wan-an (蔣萬安) confirmed NVIDIA's interest in obtaining the surface rights. The mayor said the city has identified "alternative sites" to keep the Silicon Valley company's Taiwan headquarters in Taipei. Company Chairman Wei Pao-sheng (魏寶生) emphasized Shin Kong Life's commitment to public-private partnerships in developing the technology park. ◼
