TAIPEI (TVBS News) — The Taipei City Government and Shin Kong Life Insurance (新光人壽) reached an agreement on Thursday (Nov. 13) to terminate the land rights contract for the T17 and T18 plots of the Beitou-Shilin Technology Park (北士林科技園區), paving the way for the site to house Nvidia's future Taiwan headquarters. Taipei Deputy Mayor Lee Shu-chuan (李四川) announced that the termination process will likely conclude by Nov. 21.
Currently, Shin Kong Life Insurance holds the land rights to the T17 and T18 plots. Taipei City plans to transfer these rights to NVIDIA for a termination fee exceeding NT$4.43 billion. City Council reviewed the proposal on Wednesday (Nov. 12) and approved it with bipartisan support, marking a significant step forward in the city's tech development plans.
Deputy Mayor Lee noted that Shin Kong Life Insurance had minor concerns about the agreement's wording and payment procedures. However, most issues were resolved during discussions on Thursday, and the agreement will be presented to Shin Kong's board for further communication. Lee also mentioned that NVIDIA representatives might visit next week, though the exact timing remains uncertain.
Democratic Progressive Party (DPP, 民進黨) Legislator Wang Yi-chuan (王義川) raised concerns about potential profiteering in the deal. Lee responded by emphasizing the hard work of public servants and suggested reviewing and amending laws to improve their working conditions. Mayor Chiang Wan-an (蔣萬安) expressed his intention to seek opinions from DPP members before the council's inquiry session.
