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  • Taipower to receive NT$100B subsidy amid financial crisis

    The Executive Yuan of Taiwan approves an additional NT$100 billion budget for 2024 to support Taipower in offsetting electricity costs, addressing the company’s financial challenges and the impact of global events on fuel prices. The proposal, aimed at reducing Taipower’s projected deficit, now awaits Legislative Yuan review.
    2024/05/03 17:30
  • Shilin District Court judge falls to death from residence

    Taipei Shilin District Court Judge Li found dead after falling from 6th floor residence on Minquan East Road. Police rule out foul play; cause under investigation. Judicial Yuan President Hsu expresses regret. Li handled civil, financial, sexual assault cases and promoted new civil judges system.
    2024/04/12 11:41
  • Taipower at risk of financial crisis without government aid

    Taiwan Power Co. (Taipower) faces a potential financial crisis by year-end without government aid or electricity price hikes, warned Minister of Economic Affairs Wang Mei-hua. An upcoming electricity price review may see rates for ultra-high-voltage users surge by over 10%. Wang emphasizes the need for discussion in the committee meeting and assures efforts to minimize impacts on the public. Taipower’s efficient management has helped curb price spikes and inflation, with plans in place for financial support and program development. Current electricity costs for major consumers stand at around NT$1.63, while Taipower’s generation cost, pre-tax, is NT$3.93, expected to surpass NT$4 post-tax.
    2024/02/20 13:10
  • Taiwan’s MOEA to aid Taipower’s budget crisis

    The Minister of Economic Affairs, Wang Mei-hua, plans to help Taiwan Power Company (Taipower) seek budgetary support from the Executive Yuan to alleviate its financial distress. Taipower reached out to the Ministry of Economic Affairs (MOEA) for assistance, citing escalating international fuel prices caused by the Russia-Ukraine war. Other global power companies, such as Korea Electric Power Corporation (KEPCO), Tokyo Electric Power Company (TEPCO), and Électricité de France (EDF), have already experienced significant price hikes. Taipower’s rates are relatively low compared to the cost of power generation, resulting in policy-driven losses. As of 2023, Taipower has accumulated losses of NT$382.6 billion due to absorbing price increases to protect Taiwan from global inflation. The MOEA disclosed that Taipower and the CPC Corporation have discrepancies in predicting natural gas prices, leading Taipower to observe international coal prices for cost estimates in 2024. While mitigating Taipower’s financial woes in the short term poses challenges, Wang aims to prevent further losses. The MOEA will assist Taipower in lobbying the government for budget support once financial situation estimates are finalized. The decision to adjust electricity prices will be made by the Electricity Price Review Committee.
    2024/01/23 13:09
  • Taiwan to subsidize foreign business travelers in 2024

    The Ministry of Economic Affairs and the Ministry of Transportation and Communications in Taiwan have announced a new "Subsidiary Tourism" program aimed at boosting business travel. Foreign business travelers will be eligible for a subsidy of up to NT$2,000 starting next year. The program has a budget of NT$10 million and aims to support foreign business visitors to Taiwan. Stocks of related hotels have surged in response to this policy push, with analysts predicting positive growth for the tourism industry. The reduction in extended public holidays next year is expected to favor domestic tourism momentum and improve hotel occupancy rates. Overall, businesses and investors anticipate a robust year ahead for the hotel industry in Taiwan.
    2023/12/20 17:27
  • Chiayi City to boost taxi subsidies for pregnant women

    The Chiayi City Government has announced a subsidy program for pregnant women using taxi services, in an effort to create a more pregnancy-friendly environment and counteract the city’s declining birthrate. Starting from New Year’s Day, the subsidies for expectant mothers’ taxi rides will increase from NT$2,800 to NT$4,500, with a maximum subsidy per ride rising from NT$100 to NT$150. The program now includes travel for any medical visits, as long as the rides are with designated fleets to and from medical institutions. The validity of the transportation tickets has also been extended to include the first three months following the infant’s birth. The policy is targeted at Chiayi locals and former immigrant mothers whose spouses are registered residents of Chiayi. Additionally, Chiayi has introduced plans to provide emotional support, parenting guidance, legal counseling, and financial aid to pregnant women under 20.
    2023/12/20 16:08
  • Taiwan eyes digital innovation in healthcare assessments

    The Ministry of Health and Welfare (MOHW) in Taiwan is planning to promote digitalization in healthcare, with a focus on incorporating digital development into healthcare quality metrics. This initiative aligns with national policy directives and aims to support the national plan for digital policy. The successful pilot of virtual National Health Insurance (NHI) cards during the COVID-19 pandemic was highlighted as part of the broader commitment to digitalization. The MOHW, with support from the Ministry of Digital Affairs (MODA), is providing technological budget support for the cloud-based transition of health insurance systems at grassroots clinics. The goals of Taiwan’s digitalization healthcare system include reducing manpower on the medical end, improving healthcare quality, and increasing convenience for patients. The future strategy of the MOHW will combine financial subsidies with policy mandates, starting with medical centers. The plan is to encourage the integration of digital development into healthcare quality assessment, with the aim of fostering innovation, reducing labor costs, and enhancing healthcare quality.
    2023/12/19 15:11
  • Hou Yu-ih announces new housing policy for young buyers

    Kuomintang (KMT) presidential candidate Hou Yu-ih has unveiled a new housing policy aimed at helping young people in Taiwan purchase their first homes. The initiative is targeted at individuals under 40 years old who have never owned property and face income restrictions. Under the plan, qualified buyers can receive a loan of up to NT$15 million with no down payment required. They will also enjoy a 0.5% subsidy on their mortgage interest rates, with public banks cutting the rates in half after five years. The policy will last for five years and includes restrictions on reselling the purchased properties for a maximum of ten years to address housing market speculation concerns. Hou criticized the current New Residential Loans Policy for its lack of age and income restrictions, allowing affluent individuals to benefit and non-first-time buyers to take advantage of policy perks. The plan aims to ensure fairness and accessibility for those in genuine need of support in purchasing their first homes.
    2023/12/08 17:48
  • Wang Mei-hua confirms talks with TSMC on German subsidies

    Taiwan Semiconductor Manufacturing Company (TSMC) may face obstacles in establishing a factory in Germany due to a shift in German subsidies. Minister of Economic Affairs Wang Mei-hua has confirmed that the German government is actively addressing the budget issues involved. The recent ruling by Germany’s Federal Constitutional Court, which deemed the diversion of pandemic funds for the "Climate and Transformation Fund" unconstitutional, has raised concerns about the fulfillment of financial promises to TSMC and other tech giants like Intel Corporation. If Germany decreases its subsidies, TSMC may need to renegotiate or even abandon its plans for the factory. The Taiwanese government is closely monitoring the situation and is prepared to provide support if necessary. This investment dispute has significant implications for the global supply chains and the semiconductor industry, as TSMC’s advanced semiconductors are in high demand worldwide.
    2023/12/06 18:51
  • Taiwan eyes future in nuclear tech, open to reactors

    Taiwan’s Minister of Economic Affairs, Wang Mei-hua, has announced that Taiwan will closely monitor the development of new nuclear technologies, such as small modular reactors and fusion power, and remain open to their adoption. Premier Chen Chien-jen has highlighted that addressing the challenges surrounding nuclear waste from fusion technology could significantly increase societal support for the technology. This declaration comes as over 20 countries, including the United States and Japan, proposed at the 28th meeting of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (COP28) to triple global nuclear power capacity by 2050. Additionally, nearly 120 countries committed to tripling renewable energy generation internationally within the next seven years. At COP28, 22 countries advocated for nuclear energy, focusing on small modular reactors and nuclear fusion technology, as well as securing international financial support for their development. These discussions at COP28 reflect a growing interest in diverse and innovative approaches to addressing climate change and powering the future.
    2023/12/06 14:56
  • Taiwan nurses union calls for more financial support

    Amidst a worsening nursing shortage exacerbated by the COVID-19 pandemic, Taiwan’s Union of Nurses Association (TUNA) calls on the government for increased financial support and staffing solutions. They propose allowing male nurses to fulfill their military conscription in hospitals and recommend a monthly subsidy for all nursing staff.
    2023/10/19 16:55
  • Government approves financial boost for night shift nurses

    The Executive Yuan has approved a plan to provide financial support to night and graveyard shift nurses in Taiwan. The subsidies for different shifts will range from NT$400 to NT$600 for "night shifts" and NT$600 to NT$1,000 for "graveyard shifts."
    2023/09/28 18:15
  • Taiwan gov’t expands financial support for students

    The Taiwan government approved on Thursday (June 29) a new subsidy aimed at private college students, as well as the introduction of free tuition for high school and vocational high school students. This decision has drawn criticism from opposition parties.
    2023/06/30 14:01
  • Increase in electric buses prompts new safety drills

    In pursuit of its target to achieve net-zero carbon emissions by 2050, the Taiwanese government has been providing financial support to bus companies to acquire electric buses. 
    2023/02/22 19:40
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