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  • US reinforces Taiwan’s ally ties amid China’s expansion

    U.S. Assistant Secretary for East Asian and Pacific Affairs Daniel J. Kritenbrink highlights cooperation between the U.S. and Taiwan, alongside allies Tuvalu, Palau, and the Marshall Islands, to counter China’s expansion. The Senate Foreign Relations Committee discusses U.S. strategies for the Pacific islands, focusing on American and Chinese influence in the region, with references to Taiwan’s diplomatic status and China’s economic incentives to influence Nauru. The U.S. warns Nauru and Taiwan’s allies against China’s unfulfilled promises, with efforts like the Taiwan International Solidarity Act to counter China’s manipulation of Taiwan’s international role.
    2024/03/15 16:54
  • Free YouBike ride boosts Taipei’s sustainable urban mobility

    Discover how Taipei’s YouBike expansion aims to revolutionize urban mobility, offering free rides and bolstering sustainability goals. Mayor unveils ambitious plans for the city’s transportation future.
    2024/03/08 18:29
  • China’s defense budget sees 7.2% increase

    China announces a 7.2% increase in its defense budget for the year, reaching 1.67 trillion yuan (US$231 billion), signaling significant military expansion. Comparatively, this figure dwarfs Taiwan’s budget, amidst global rises in military spending.
    2024/03/06 17:54
  • TSMC’s cutting-edge chip tech to stay in Taiwan: NDC

    Stay updated on the latest developments in Taiwan’s semiconductor industry with this story on the National Development Council Minister Kung Ming-hsin’s affirmation that Taiwan Semiconductor Manufacturing Company’s cutting-edge processing techniques will continue to be based in Taiwan. Learn about TSMC’s global expansion plans and Taiwan’s strategies to maintain its industrial competitiveness in the face of growing demand for advanced chipsets.
    2024/03/06 17:29
  • TSMC inaugurates first fabrication plant in Japan

    TSMC, the leading semiconductor manufacturer, has inaugurated its first fabrication plant in Kumamoto, Japan, marking a pivotal step in its global expansion. This strategic move aims to enhance Japan’s chip industry and TSMC’s manufacturing capabilities, with plans for a second fab and a commitment to sustainability.
    2024/03/03 18:31
  • Hon Hai acquires land in Mexico for AI server expansion

    Hon Hai Technology Group, known as Foxconn, announces a strategic investment in El Salto, Mexico, to enhance its AI server production, aligning with global demand and expanding its manufacturing footprint.
    2024/03/01 17:07
  • Taipei revives free 30-min YouBike rides, starting Feb. 28

    Taipei mayor Chiang Wan-an announces the return of free 30-minute YouBike rides, part of a plan to expand operations and promote safety and physical activity in the city. The initiative aligns with ambitious environmental goals for 2030, aiming for a 40% reduction in carbon emissions and a 70% green transportation usage rate.
    2024/02/26 16:31
  • Taipei expands free health checks for 66K seniors

    Stay updated on the latest news from Taipei City Government’s Department of Health regarding the expansion of free senior health checks in 2024. Online registration for special groups of elderly citizens begins on Feb. 22, with additional scheduling available on March 4. Director Chen Yen-yuan introduces a redesigned health check-up regimen, including new packages for bone density and muscle strength. Take advantage of services offered by 61 health care institutions and subsidized preventive health services for citizens aged 65 and over.
    2024/02/19 15:20
  • Taiwan’s exports hit top-three record despite 2023 dip

    Taiwan’s export performance reached a historic high from 2021 to 2023, but experienced a 9.8% decline in 2023 compared to the previous year, according to the Ministry of Finance. Despite this setback, exports to the U.S. continued to soar with a 49.7% year-on-year increase, while exports to countries covered by Taiwan’s New Southbound Policy also saw significant growth. However, exports to mainland China decreased to 35.2%. Taiwan’s total export tally for 2023 amounted to US$432.48 billion, ranking behind only 2022 and 2021. The demand for communications and electronic products during the pandemic-induced work-from-home trend boosted Taiwan’s exports. The Taiwan Institute of Economic Research predicted significant international trade growth in 2024, which would benefit export-oriented economies like Taiwan. In December 2023, Taiwan’s exports to the U.S. reached $8.49 billion, and exports to southern countries surged by over 50%. However, due to the limited coverage of free trade agreements (FTAs), many traditional Taiwanese industries chose to restructure risks and production in Southeast and South Asia. The return of Taiwanese businesses and the expansion of local factories after the U.S.-China trade war, as well as global economic circumstances, significantly impacted the decline in 2023 exports. The Directorate General of Budget, Accounting and Statistics (DGBAS) estimated the first-quarter export volume for 2024 to be around US$106.1 billion, which is an improvement compared to the same period in 2023, but a 10% decrease from 2022.
    2024/02/15 10:49
  • TSMC expands in Japan with 2nd wafer plant slated for 2027

    Taiwan Semiconductor Manufacturing Company (TSMC) has announced that its Japan subsidiary, JASM, will construct a second wafer fabrication plant by the end of 2024. The plant is expected to be operational by the end of 2027. With support from the Japanese government, TSMC plans to begin production at its first JASM wafer fabrication plant in 2024, with a total investment exceeding US$20 billion. The construction of the second plant is driven by increasing customer demand. The expansion aims to optimize JASM’s cost structure and supply chain efficiency, resulting in increased production. Once both plants are operational, JASM’s Kumamoto wafer fabrication plant will have a monthly capacity of over 100,000 12-inch wafers. The Japan fab will offer process technologies ranging from 40nm to 6nm, catering to automotive, industrial, consumer, and high-performance computing applications. TSMC also mentioned that capacity planning can be adjusted based on client requirements. The Kumamoto wafer plant is expected to create more than 3,400 high-tech professional jobs.
    2024/02/07 14:37
  • Taiwan eyes stronger ties with UK post-Brexit

    Following the United Kingdom’s departure from the European Union (EU), Taiwan’s representative to the UK, Vincent Yao, stated that Brexit has allowed the UK to establish closer economic ties with Taiwan, potentially helping Taiwan resist China’s attempts to isolate it. Taiwan is also increasingly investing in the UK, with the goal of becoming the UK’s primary trading partner in Europe. Additionally, strengthening UK-Taiwan trade relations could benefit the UK by providing access to Taiwan’s key industries, such as semiconductors. The bilateral relationship between Taiwan and the UK is reflected in the increase of UK government officials posted to Taiwan and the expansion of the UK office in Taipei. Collaboration between the two countries extends to areas such as artificial intelligence, offshore wind power, and electric vehicle batteries. However, there is still room for further development in bilateral cooperation.
    2024/01/30 12:41
  • TSMC plans second Japan plant: A tech giant’s expansion

    Taiwan Semiconductor Manufacturing Company (TSMC) is considering constructing a second facility in Japan’s Kumamoto Prefecture, with an announcement expected in February. The new facility is projected to attract an investment of around two trillion Yen, roughly NT$421.6 billion. TSMC’s first plant in Kumamoto is nearing completion, indicating a significant expansion of the Taiwanese company’s operations in Japan. Industry analysts speculate that this development, along with the completion of TSMC’s first plant, could attract more semiconductor-related industries, including those from Taiwan, to Kumamoto. The new plant is expected to produce semiconductor products ranging from 7 to 16 nanometers. TSMC currently holds the tenth position in the list of 2023’s top global companies by market value, with a valuation of $53.498 billion, or about NT$1.67 trillion, according to UK-based financial services provider City Index.
    2024/01/29 11:38
  • Marketech’s record revenues fuel semiconductor market growth

    Marketech International Corp., a semiconductor giant, is set to achieve new operational heights through factory expansion and the promotion of new business ventures, including 2-nanometer projects and advanced packaging. With high-profile orders exceeding NT$60 billion, the company anticipates robust financial health and ambitious expansion plans. In December 2023, Marketech achieved a record monthly growth rate of 12.7% and an annual surge of 13.8%, with consolidated revenue reaching NT$5.63 billion. Furthermore, the company’s accumulated annual consolidated revenue in 2023 reached NT$56.28 billion, marking a growth of 11.7%. These impressive results position Marketech as an emerging player in the global semiconductor market, poised for future growth and expansion through advanced technological strategies.
    2024/01/18 14:58
  • TSMC sets date for new Japan factory launch in Kumamoto

    Taiwanese Semiconductor Manufacturing Company (TSMC) plans to open a factory in Japan’s Kumamoto precinct on Feb. 24, 2023, according to Japanese daily newspaper Kumamoto Nichinichi Shimbun. Construction of the plant began in April 2022, with mass production expected by the end of 2024. The office building at the Kumamoto site has already started operations, and manufacturing equipment installation began in October 2021. TSMC has previously expressed Kumamoto as the preferred location for a second factory in Japan, likely adjacent to the original plant. The factory is expected to employ approximately 1,700 people, and staff recruitment efforts are progressing smoothly.
    2023/12/30 16:44
  • KMT’s Hou Yu-ih slams DPP’s COVID-19 response in debate

    Kuomintang (KMT) presidential candidate Hou Yu-ih criticized the Democratic Progressive Party (DPP) for their mishandling of the COVID-19 pandemic during a live presidential debate. Hou specifically targeted DPP presidential candidate Lai Ching-te, accusing him of neglect during the outbreak. Hou further claimed that Lai focused on issues surrounding his family home’s illegal expansion claim instead of caring for the public. As the former mayor of New Taipei City, Hou stated that any pandemic-related advice proposed to the central government was denied. He also criticized the DPP government for shortages of anti-epidemic supplies and food safety issues. Hou emphasized the need to establish a special investigation team to probe malpractices in the DPP’s pandemic approach. Additionally, he questioned Lai’s advocacy for Taiwanese independence, suggesting that it could escalate cross-strait tensions. Hou criticized Lai’s tactics as underestimating the intelligence of the Taiwanese people and disrespecting the Republic of China (Taiwan). He portrayed Lai as ungrateful and not trustworthy for Taiwan.
    2023/12/30 15:23
  • Top 5 news of 2023 to influence Taiwan’s general elections

    Taiwan’s selection of "Que" (缺), reflecting shortages and challenges in 2023, sets a pivotal backdrop for the upcoming General Elections. Key events like diplomatic shifts, the #MeToo movement, defense upgrades, TSMC’s global expansion, and political alliances define Taiwan’s future.
    2023/12/29 18:28
  • Taiwan expands culture points for youths in 2024

    Taiwan’s Ministry of Culture (MOC) has announced that the eligibility for its "culture points" system will be expanded starting in 2024. The age range will be widened to include individuals aged 16 to 22, compared to the current range of 18 to 21. These points can be redeemed for cultural activities and goods and will be distributed from January 20, 2024. Each person will be able to claim the points seven times in their lifetime, starting at age 16, and the points will remain valid until December 31, 2024. The culture points can be utilized for various cultural activities such as watching local films, performances, buying books, visiting museums, and engaging in other forms of creative cultural consumption. The uptake rate for the culture points in 2023 was 80%, and it is expected to become a regular policy incorporated into the MOC’s annual budget from 2024 onwards. The number of recipients for culture points is projected to increase significantly from one million to 1.5 million in 2024.
    2023/12/28 15:57
  • Q Burger announces up to 23.4% salary hike in 2024

    Q Burger, a restaurant chain in Taipei, is making waves with its generous end-of-year bonus of up to 27.8 months for staff. In addition, the company plans to increase salaries by 23.4% in 2024, aiming to break away from the low-paying norms of the industry. Newly hired employees can expect a high basic salary of up to NT$35,000, while reserve executives start at NT$37,000. To address regional differences in living costs, Q Burger is also offering a substantial regional subsidy, with store employees in Taipei receiving an extra NT$4,000 per month. In a unique move to motivate employees, the company has introduced the "Dream Reward Plan," which grants 20% of net profits to store chiefs. Q Burger’s success is evident, with its expansion to 340 stores across Taiwan and over one million app members in 2023.
    2023/12/27 14:50
  • MOI approves phase two of CTSP expansion, meeting TSMC needs

    The urban planning committee of Taiwan’s Ministry of the Interior (MOI) has approved phase two of the Central Taiwan Science Park (CTSP) expansion project, which is closely linked to Taiwan Semiconductor Manufacturing Company (TSMC). This project aims to meet the advanced manufacturing needs of Taiwan’s semiconductor industry. The CTSP administration received support from committee members, and the land is expected to be handed over to factories by mid-2024 for public works construction. The expansion will convert agricultural and institutional land into a specialized area and public facility space spanning 89 hectares. In addition to creating 4,500 jobs to strengthen the semiconductor industry, the project will also align with climate change strategies and targets for a net-zero path by 2050. This includes a timeline for the supply of reclaimed water and renewable energy. The MOI emphasizes that these strategies and targets will respond to international sustainability goals while balancing global competitiveness with local sustainable development.
    2023/12/26 22:14
  • C.C. Wei to maintain course after Liu’s 2024 exit: analyst

    TSMC chairman Mark Liu’s upcoming retirement in 2024 has led investment experts to suggest that the semiconductor giant should slow down the progress of its new manufacturing facility in the United States. Industry analyst Jonah Cheng believes that TSMC’s policy direction will remain unchanged under the leadership of chief executive C.C. Wei, who is expected to succeed Liu as chairman. Cheng also proposes maintaining a dual leadership structure to cultivate successors from various backgrounds. Speculation suggests that Liu’s retirement may be linked to potential investment challenges in the company’s U.S. expansion. In response to these challenges, Cheng recommends a deceleration in the construction of TSMC’s second U.S. plant. He also highlights the need to assess the current downturn in the car market and economic outlook before proceeding with the German plant focused on automotive applications. Cheng suggests that the Japanese facility could be an optimal choice due to labor and power shortages in Taiwan, as well as cultural similarities and strong government support from Japan. TSMC’s primary obstacle, according to Cheng, is maintaining its leadership position in the semiconductor industry, especially after surpassing Intel. Additionally, the cyclical nature of the industry and the potential opportunities presented by the rise of artificial intelligence (AI) applications pose further challenges for the company.
    2023/12/20 18:45
  • Taiwan sees economic confidence boost: survey

    A survey by Cathay Financial Holdings reveals a rise in Taiwan’s economic confidence, with the outlook index turning positive and stock market optimism rebounding. The December survey shows that 70% of the population expects the economic growth rate to exceed 2% in 2024, while 55% anticipate the inflation rate to remain above 2%. These expectations differ slightly from projections by the Directorate-General of Budget, Accounting, and Statistics (DGBAS), which forecasts a 3.35% economic growth rate and an inflation rate of 1.64% for 2024. The DGBAS data suggests that people may be more conservative about economic expansion and anticipate higher inflation. Additionally, expectations for salary adjustments have improved compared to 2022, with 45.9% of those surveyed predicting wage increases. Of these, 9.2% believe raises will exceed 3%, and 47.6% expect monthly regular wages to stay the same. Taiwan’s current situation confidence index has climbed from -23.2 in November to -3.0 in December, while the future outlook confidence index has improved from -9.1 to 3.6, signaling growing optimism about Taiwan’s upcoming economic climate.
    2023/12/20 14:56
  • FamilyMart subsidiary boosts salaries by up to 5% in 2024

    Taipei-based subsidiary Family International Gourmet, a part of Taiwan FamilyMart Co., Ltd, has announced plans to increase salaries by 3-5% in 2024. The company will also offer incentive and performance bonuses equivalent to three to eight months of annual pay. Outstanding employees in 2023 could potentially earn annual salaries equivalent to over 20 months, with some store managers already earning millions of dollars per year. The company plans to expand by opening 8-12 new stores annually. In 2024, they aim to hire over 500 regular employees, including 50 potential store managers and over 200 potential supervisors. Starting salaries for new employees will increase from NT$34,000 to NT$36,000, with reserve cadres earning NT$40,000. Employees who pass training assessments can quickly advance to store manager roles, with the opportunity to earn annual salaries exceeding NT$1 million. The company reported impressive revenues of NT$19.92 billion in November, a nearly 30% increase year-on-year. Family International Gourmet is set to debut on the emerging stock market this Thursday as it progresses towards listing on the over-the-counter market.
    2023/12/20 14:51
  • U.S. approves $300M arms sale to Taiwan

    Taiwan’s Ministry of Foreign Affairs (MOFA) has received formal notification from the U.S. government about the sale of tactical information systems worth approximately US$300 million. This arms deal, the twelfth from the Biden administration to Taiwan since 2021, demonstrates the U.S.’s commitment to Taiwan’s defense needs. MOFA expressed gratitude for the U.S.’s continued fulfillment of its security commitments in accordance with the Taiwan Relations Act and the Six Assurances. The sale includes equipment, training, and technical support, which will enhance Taiwan’s national defense and deterrence capabilities. MOFA reiterated Taiwan’s determination to strengthen its self-defense capabilities, safeguard its territory, and preserve its democratic and free way of life in the face of China’s military expansion and provocation. The foreign ministry also emphasized the deepening security partnerships with the U.S. to uphold a rules-based international order and ensure peace, stability, and prosperity in the Taiwan Strait and the broader Indo-Pacific region.
    2023/12/16 15:48
  • Robust growth spurs Taiwan dining firms’ market entry

    Three major food service companies in Taiwan, Jhu Jian Group, Family International Gourmet Co., Ltd., and Mercuries F&B Co., Ltd., are set to list on the emerging stock market next week. Jhu Jian Group will join the Pioneer Stock Board on Dec. 21 and plans to transition to the emerging stock market trading by Jan. 2, 2024. The group’s revenue has already surpassed that of the previous year, with projections indicating an expansion to 175 outlets by year’s end. Family International Gourmet Co., Ltd. will also list on Dec. 21, with a robust year-over-year revenue increase of 28.4% in the first eleven months. Mercuries F&B Co., Ltd. will enter the emerging stock market on Dec. 22, reporting an impressive revenue increase of 10.82% in the first eleven months. These listings reflect the strong recovery and growth in Taiwan’s food and beverage sector.
    2023/12/15 17:47
  • President highlights debt repayment, defense spending

    Taiwan’s President Tsai Ing-wen addressed criticism about her government’s spending and accusations of burdening future generations with debt. She claimed to be the best debt-repaying president and announced that her administration had repaid over NT$800 billion of debt. Tsai highlighted the increases in national spending under her leadership, including a significant hike in the national defense budget to NT$600 billion and a raise in the budget for elderly care from NT$5 billion to NT$80 billion. She also mentioned the expansion of the national child-rearing policy and the progress of the indigenous defense aircraft program. Tsai viewed the construction of a prototype submarine as a milestone that strengthens the island’s defensive capabilities.
    2023/12/15 16:40
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