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  • Taiwan tops Asia in human freedom, ranks 12th globally

    The Cato Institute and the Fraser Institute have co-published the 2023 Human Freedom Index, revealing that Switzerland maintains its position as the country with the highest levels of human freedom. Taiwan, on the other hand, ranks 12th globally and claims the top spot for human freedom in Asia. The report highlights that the COVID-19 pandemic has generally led to a decline in human freedom, particularly in areas such as the rule of law, action, speech, assembly, association, and trade. Taiwan performs well in individual freedom, securing the 12th spot with a score of 8.98 out of 10, and ranks 11th in economic freedom with a score of 7.79, resulting in an overall score of 8.56. The Human Freedom Index is a comprehensive assessment of personal, civil, and economic freedoms worldwide, based on data from 2021 encompassing 165 jurisdictions.
    2023/12/20 19:18
  • Nearly half in Taiwan expect pay hikes in 2024, survey shows

    Nearly 46% of Taiwanese people expect a salary increase next year, according to a survey by Cathay Financial Holding Co. The survey also found that about 60% of respondents anticipate year-end bonuses ranging from one to three months’ salary, while 8.3% expect bonuses to exceed three months. However, 47.6% of those surveyed expect monthly wages to remain constant. The survey also revealed a conservative estimate for Taiwan’s 2024 economic growth, with an average expectation of 2.52%, contrasting with the more bullish 3.35% forecast by the Directorate-General of Budget, Accounting, and Statistics. Respondents predict an average inflation rate of 2.21%, with 55% believing it will exceed 2%, higher than the directorate’s projection of 1.64% for 2024. The survey was conducted from Dec. 1-7 and gathered 13,379 valid responses through email questionnaires.
    2023/12/20 19:13
  • Foreign investment in Taiwan hits 15-year high despite drop

    The number of approved overseas Chinese and foreign investments in Taiwan decreased by 8.89% to 2,102 cases in the first 11 months of 2023 compared to the same period last year. However, the investment amount from these sources reached US$10.79 billion (NT$323.7 billion), the second-highest in the past 15 years, with significant contributions from the offshore wind power sector. French company TotalEnergies Renewables SAS and British firm OSW Investments Taiwan JVCO 2 Limited increased their capital in Haiding Two International Investment Co., Ltd. by NT$5.03 billion. New companies established during this period amounted to 1,124 cases, with an investment value of US$680 million (NT$20.37 billion). Investments from Southeast Asian countries increased notably, with 609 cases, a 41.3% year-on-year increase, and a monetary surge of 25.2% to US$2.52 billion (NT$75.68 billion), mainly from Singapore, Thailand, and Malaysia. However, Chinese investments in Taiwan declined, with only 24 approved cases, a 45.45% decrease from the previous year, and investment figures dropping by 21.65% to US$27.38 million (NT$820 million). On the other hand, overseas investments from Taiwan increased, with a moderate rise in approved cases by 2.44% to 504 and a substantial annual increase of 145.61% in investment total to US$22.81 billion (NT$684.42 billion). Key overseas investments included TSMC’s US$8 billion capital injection into its Arizona subsidiary and a €3.5 billion investment in Germany’s ESMC GmbH. Foxconn Technology Group also made a significant investment of US$8 billion in its Singapore subsidiary, and Yang Ming Marine Transport Corp. invested a similar amount in Singapore-based Yang Ming (Singapore) Pte. Ltd.
    2023/12/20 17:20
  • FamilyMart Taiwan sees fresh food sales jump 10% annually

    FamilyMart, a leading convenience store chain in Taiwan, has experienced significant growth in its fresh food sales, with an annual increase of at least 10% over the past three years. In 2022 alone, revenue from fresh foods reached NT$25 billion, accounting for over 30% of the company’s total revenue. Huang Cheng-tien, FamilyMart’s Fresh Foods Operations Manager, considers fresh foods a crucial strategic asset and has launched branded products targeting various market segments and trending categories. The focused brands, such as ’uno pasta’ for Italian pasta and ’minimore’ for desserts, have yielded impressive results, with pasta sales growing by 20% annually and dessert sales in 2022 skyrocketing by over 40%. FamilyMart has also made significant efforts to cater to health-conscious consumers, implementing structural reforms since 2016 that encompass ingredients, equipment, packaging, and processes. These reforms have contributed to the success of products like the tuna onigiri, which saw a 19% sales growth in 2022. Additionally, FamilyMart has collaborated with renowned restaurants and chefs, including Din Tai Fung, resulting in the sale of over 20 million co-branded items. These collaborations aim to create differentiated products by incorporating key ingredients from partners, such as a spicy sauce by Din Tai Fung used in unique offerings like grilled rice balls and fried noodles. In the first half of this year, FamilyMart’s fresh food revenue grew by an impressive 20%. The company’s General Manager, Hsueh Tung-tu, strives to attract more customers by offering unique products, following the motto "What others don’t have, we have; what others have, we excel in."
    2023/12/20 15:32
  • 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
  • Apple Sidra returns after passing hygiene checks

    Oceanic Beverages Company, previously under scrutiny for water quality violations at its Pingzhen factory, has announced that its apple cider products now meet health standards set by the Taoyuan City Government’s Department of Health (DPH). This allows the company to resume sales. Earlier complaints had alleged that the beverages produced at the Pingzhen factory contained unknown sediment and did not meet water quality regulations. Following inspections in April and May, Taoyuan’s DPH ordered a suspension of three production lines, effectively shutting down the entire plant. However, Oceanic Beverages Co. has now revealed that production lines two and three have officially recommenced operations. The company has clarified that the apple cider products currently on shelves include batches from an initial trial production on Oct. 27, as well as regular production that resumed on Nov. 16.
    2023/12/20 13:49
  • Taiwanese students excel in civic knowledge, OECD finds

    Taiwan’s Ministry of Education’s ’108 curriculum’ has brought about new educational outcomes, as noted by Premier Chen Chien-jen. The 2022 International Civic and Citizenship Education Study (ICCS 2022) by the International Association for the Evaluation of Educational Achievement (IEA) reveals that Taiwanese students have achieved top global rankings in civic knowledge, gender equality, and ethnic group equality. The government’s efforts to strengthen education through the new curriculum have also been recognized by the Organisation for Economic Co-operation and Development (OECD). Among 81 countries assessed, Taiwanese students ranked third in mathematics literacy, fourth in science, and fifth in reading. Premier Chen emphasized that these achievements highlight Taiwan’s exceptional students and demonstrate the nation’s commitment to investing in education. The OECD evaluation further solidifies Taiwan’s position on the world stage for educational accomplishments, showcasing the effectiveness of its educational policies and curriculum advancements. Premier Chen expressed confidence in Taiwan’s youth and the government’s education approach, stating that these high rankings represent a valuable investment in the future generations of Taiwan.
    2023/12/18 21:21
  • Actor Greg Hsu’s cameo in Jay Chou MV wows fans

    Taipei actor Greg Hsu’s appearance in a music video by Mandopop legend Jay Chou at the age of 13 has shocked fans online. In a throwback clip from Chou’s "Class 3-2" music video, a young Hsu can be seen playing table tennis while wearing black-rimmed glasses. Despite his rounder face, his distinctive features are already evident. The discovery of this footage has sparked surprise and admiration for Hsu’s transformation from a young table tennis player to a heartthrob. Now 32 years old, Hsu gained fame through his breakout role in the Taiwanese drama "Someday or One Day" and has become immensely popular across Asia, particularly in China and South Korea. Hsu has revealed that he took up sports, including table tennis, to manage his childhood asthma. His talent in the sport earned him a spot on the elementary school team and eventually led to his cameo in Chou’s music video. "Someday or One Day," which co-stars Alice Ko, is considered a landmark Taiwanese television series and has garnered such acclaim that South Korea produced its own remake titled "A Time Called You."
    2023/12/18 21:18
  • No bonus for Taiwan conscripts failing basic training: MND

    Taiwan’s Ministry of National Defense (MND) has announced that conscripted soldiers who fail to pass their basic training will receive a base salary of approximately NT$10,000, without eligibility for professional bonuses or honor leave. The new one-year mandatory service, starting in January 2024, requires conscripts to undergo 8 weeks of basic training followed by 44 weeks of unit training. The basic training curriculum includes combat instruction, tactical marching, and battlefield medical aid courses. Only those who pass the basic training and obtain the "Completion of Training Specialty Certificate" will qualify for an additional monthly professional bonus of NT$10,190, bringing their total monthly salary to NT$20,320. To ensure training effectiveness, the MND has also issued guidelines for supplementary training and re-tests for conscripts who fail to meet the standards.
    2023/12/18 16:53
  • Taiwan’s TAIEX falls by 36 points to 17,637.86

    Taiwan stock market opens the week with a slight decline as TAIEX falls by 36.01 points to 17,637.86 on Monday (Dec. 18). Shares of Taiwan Semiconductor Manufacturing Company (TSMC) drop by NT$6 to NT$579 upon market opening. Traditional industrial stocks, particularly the steel sector, show resilience with Hsin Kuang Steel and Sheng Yu Steel Co., Ltd seeing shares rise over 2% in early trading. China Steel Corporation’s shares climb more than 1.8%, opening at NT$26.95. Analysts highlight the importance of the incoming U.S. November Core Personal Consumption Expenditures (PCE) Price Index, a key inflation indicator for the Fed, and the impact of recent ETF rebalancing with stock replacements on individual stocks.
    2023/12/18 10:27
  • 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
  • Kaohsiung, Japan deepen bond in trade, education, tourism

    Chairman Mitsuo Ohashi of the Japan-Taiwan Exchange Association visited the Kaohsiung City government to discuss enhancing industry, education, and tourism cooperation exchanges with Mayor Chen Chi-Mai. Ohashi emphasized the significance of Kaohsiung in Japan’s relations with Taiwan. Mayor Chen expressed enthusiasm for deeper interactions between Taiwan and Japan, highlighting the crucial role of Taiwan’s semiconductor industry in global supply chain security. He cited the collaboration between Taiwan Semiconductor Manufacturing Co. (TSMC) in Kaohsiung and Kumamoto, Japan, as an example of potential economic cooperation. Chen described the Taiwan-Japan relationship as a deepening bond, referencing their long-standing friendship and mutual support during crises. Ohashi, who visited Kaohsiung 40 years ago and has maintained connections with past Mayor Chen Chu and Taiwan’s representative to Japan, Frank Hsieh, expressed admiration for Kaohsiung’s recent development. He believes that Japan-Kaohsiung cooperation should extend to the private enterprise level and is hopeful for the future of Japanese-Taiwanese relations. Ohashi frequently speaks at the annual National Day reception at the Taiwan Economic and Cultural Representative Office in Japan, advocating for promoting friendly Japan-Taiwan relations as an example for the international community.
    2023/12/12 17:58
  • Vietnam wins big as Chinese, US investment surges

    Chinese companies are increasingly establishing supply chains in Vietnam as U.S. companies like Apple move production there, according to Japanese media reports. Export restrictions on advanced semiconductors and semiconductor production equipment to China by the Biden Administration have led to difficulties for Chinese manufacturers, prompting a shift in investment towards alternative manufacturing bases like Vietnam. Approved foreign direct investment in Vietnam increased by 15% from January to November 2023, with Chinese investment, including from Hong Kong and Macao, doubling from the previous year. Chinese investment in Vietnam is even higher when routed through subsidiaries based in Singapore and Thailand. Notable investments include Shandong Haohua Tire Co. Ltd.’s US$500 million investment and Trina Solar Co., Ltd.’s US$420 million decision. BYD Company also announced an expansion investment of US$144 million, bringing its total investment in Vietnam to over US$400 million. Japanese experts believe that Chinese enterprises must engage in joint advancements in cutting-edge technology with local entities to be seen as partners by the Vietnamese.
    2023/12/12 16:02
  • Hou Yu-ih pledges free after-school care for Taiwan’s youth

    Kuomintang (KMT) presidential candidate Hou Yu-ih has announced an extension of childcare policies, promising free after-school care services for elementary students aged 6 to 12. This initiative aims to double the current capacity of after-school care in public elementary schools from 180,000 to 360,000 children, with a focus on providing specialized care to children in rural areas and from disadvantaged backgrounds. Hou’s plan includes establishing after-school programs in public elementary schools to meet 100% of the demand, increasing student coverage from 15% to 30% and meeting the standard set by the Organization for Economic Co-operation and Development (OECD). The policy, guided by the "Three Safeties" principle, aims to ensure parental peace of mind, child safety, and stability for the disadvantaged. Extended care until 7 p.m. will be available during the school term and vacations. Additionally, the initiative seeks to expand private-sector participation in after-school care services by creating a matching platform to add over 20,000 new classes and increasing the proportion of outsourced after-school care to over 20%. The anticipated benefits of this policy include providing services to approximately 300,000 families, including 80,000 disadvantaged families, creating around 30,000 job opportunities, and strengthening the service capacity of private institutions.
    2023/12/12 13:56
  • TSMC to expand globally, retain roots in Taiwan: Hsiao

    DPP vice-presidential candidate Hsiao Bi-khim visited the TSMC Museum of Innovation and stated that Taiwan Semiconductor Manufacturing Co (TSMC) would remain based in Taiwan while expanding into trusted partner countries. Concerns about brain drain and technology outflow have arisen as TSMC expands globally. Hsiao emphasized that the first "T" in TSMC stands for Taiwan and highlighted the importance of strategic placement in partner countries. Drawing on her experience in the United States, Hsiao mentioned her efforts to prevent double taxation agreements, which benefit Taiwan’s talent and industries. Her visit and comments coincide with TSMC’s international strategies being closely scrutinized as it seeks to maintain its competitive edge in a complex geopolitical landscape.
    2023/12/12 13:31
  • Taiwan’s TAIEX hits year high, crosses 17,500 mark

    Taiwan’s stock market opened strong on Tuesday, reaching a new high for the year of 17,528 points, surpassing the 17,500 mark. This increase came after a rise in U.S. stocks on Monday. The Taiwan Stock Exchange Weighted Index (TAIEX) climbed by 78.65 points to 17,496.99 points, with a trading volume of NT$36.387 billion as of 9:06 a.m. Leading the gainers in early trading were Taiwan Semiconductor Manufacturing Co. (TSMC), Largan Precision, and Foxconn. This week, as the market enters a central bank super week, banks in the U.S. and Europe are expected to announce their final rate decisions for the year. Taiwan’s Financial Supervisory Commission (FSC) chairman Huang Tien-mu expressed the government’s commitment to stabilizing the capital market and highlighted the resilience of Taiwan’s stock market. Huang assured that the FSC is prepared to manage the impact of the Federal Reserve’s decisions on the market.
    2023/12/12 10:24
  • DPP decries false media claims on presidential debates

    The spokesperson for Democratic Progressive Party (DPP) presidential candidate Lai Ching-te’s campaign office expressed regret over inaccurate and malicious media reports about the upcoming presidential debates. The spokesperson demanded corrections from outlets that claimed certain media were favored during the debates and alleged a coalition aiming to gang up on fellow candidates Hou Yu-ih and Ko Wen-je. It was emphasized that the decision for 11 media organizations to jointly host the debates is a longstanding practice resulting from two rounds of negotiations without interference from any campaign offices. The spokesperson also highlighted misinformation circulated by China Times, one of the debate co-hosts, despite its involvement in the meetings. The 2024 presidential election debates are scheduled to be held at Public Television Service (PTS) on December 30 at 2 p.m., with the vice presidential debates tentatively scheduled for January 1, 2024, also at 2 p.m. The 11 media entities collaboratively organizing the debates include Central News Agency (CNA), China Times, Liberty Times, United Daily News, SET News, Taiwan Television, Formosa Television, Chinese Television System (CTS), Mirror Media, TVBS News, and Public Television Service. PTS will produce and broadcast the debates, including comprehensive sign language services for the hearing impaired.
    2023/12/09 15:34
  • TSMC, AZBTC resolve dispute with training, safety deal

    Taiwan Semiconductor Manufacturing Co. (TSMC) and the Arizona Building and Construction Trades Council (AZBTC) have reached an agreement to resolve a labor dispute at TSMC’s Phoenix semiconductor manufacturing facility. The collaboration includes employee training programs and a commitment to transparency on workplace safety issues. This agreement is seen as a critical step for TSMC, which is expected to benefit from the US$100 billion in subsidies provided by the U.S. Chips Act. TSMC has agreed to prioritize local hiring but can employ foreign workers with "specialist experience" if needed. TSMC’s investment in Arizona amounts to US$40 billion, with construction starting in 2021. Mass production is now scheduled to begin in the first half of 2025. This resolution not only facilitates smoother progress in the construction of TSMC’s plant but also highlights the company’s role in increasing semiconductor production capabilities in the United States.
    2023/12/07 18:06
  • TSMC Arizona, AZBTC unite to bolster chip plant labor

    Taiwan Semiconductor Manufacturing Co (TSMC) and the Arizona Building and Construction Trades Council (AZBTC) have reached a collaboration agreement to resolve labor disputes and enhance the development of TSMC’s semiconductor manufacturing facility in Phoenix. The deal includes increased workforce training, improved safety transparency, and the formation of a quarterly committee to ensure implementation. TSMC has committed a US$40 billion investment in its Arizona production site and aims to hire locally while also employing foreign workers with specialized experience. The agreement has been hailed as a victory for Arizona workers and the construction timeline of TSMC Arizona. To address the labor shortage, TSMC has invested US$15 million in the Arizona Pipe Trades to expand apprenticeship training and establish a semiconductor manufacturing school.
    2023/12/07 17:47
  • 204 workers accept severance from Launch Tech after layoff

    Launch Technologies Co., a golf manufacturer in Pingtung, Taiwan, has reached a severance agreement with 204 of its local workers following a layoff plan submitted last month. The company, which suffered a significant explosion at its factory in September, has also helped some employees find new jobs and provided them with generous severance pay. The Ministry of Economic Affairs has pledged to closely monitor the labor rights of the affected workers. The factory buildings remain closed and operations will only resume after third-party verification of their structural safety. Launch Technologies has established an internal legal team to compensate the impacted employees and has committed to continuing salary payments through the end of the year.
    2023/12/07 14:30
  • Taiwan stocks waver, TSMC rises amid U.S. market downturn

    Taipei stock market remains steady around 17,360 points following a downturn in the US stock market. TSMC, the leading semiconductor foundry service provider, sees a rise of NT$3 to reach NT$573. Other semiconductor companies like UMC, PSMC, and VIS also experience modest gains. Additionally, electronic stocks like MediaTek show strength with a 1.4% increase to NT$940. Cable stocks outperform, while other sectors show slight fluctuations.
    2023/12/07 11:35
  • Asian Baseball Championship tickets sell out in seconds

    Priority tickets for the highly anticipated Chinese Taipei vs. Japan and Chinese Taipei vs. Philippines matches at the Asian Baseball Championship sold out within a minute of going on sale. CTBC Bank cardholders enjoyed an exclusive priority purchasing period, limited to 3,000 tickets per match. The rapid sellout, known as a "flash sale," sets the stage for an electrifying atmosphere at Taipei Dome. Ticket prices were raised for games featuring the Chinese Taipei team, highlighting the fervor surrounding their participation. Additional tickets were released for Chinese Taipei’s quarterfinal matches, but fans continued to rush to secure their spot in the stadium. The Chinese Taipei Baseball Association (CTBA) disclosed ticket prices, with infield seats priced at NT$1,000 and outfield seats at NT$800 for Chinese Taipei’s games. For matches not involving the home team, only infield seats are offered at NT$600. The grand finale on Dec. 10 is expected to have an expanded crowd of 22,000 spectators at Farglory Dome Co., creating the ultimate showdown on the diamond.
    2023/12/07 11:09
  • 超懂偷!41歲無業男幹走愛馬仕、Tiffany 鑽破頂加屋頂行竊

    台北市士林福港街一處頂樓加蓋分租套房,日前遭小偷光顧,兩名住戶損失上萬元台幣以及蒂芙尼(Tiffany&Co.)和愛馬仕(HERMES)的飾品!警方獲報後展開調查,這才發現陳姓嫌犯相當狡猾,為躲過監視器竟然爬到頂樓屋頂,以螺絲起子鑽破鐵皮和天花板潛入行竊,就連代步工具都是偷來的。警方鎖定他出沒於新北市永和附近後,隨即持拘票和搜索票前往逮人,起初他還否認犯案,直到員警於他口袋中搜出蒂芙尼和愛馬仕贓物,他才啞口無言。
    2023/12/06 16:28
  • Legislative Yuan reviews Assisted Reproduction Act

    The Legislative Yuan’s Social Welfare and Environmental Hygiene Committee reviewed proposed amendments to the Assisted Reproduction Act, including one that would allow a surviving spouse to use embryos for having children after the death of their partner. The Ministry of Health and Welfare is considering expanding the legislation to include same-sex couples, single individuals, and surrogate pregnancies. Minister of Health and Welfare Hsueh Jui-yuan suggested a public hearing to gather feedback due to the ethical, legal, and child welfare considerations involved. The current law only permits assisted reproduction for married couples, excluding single women and lesbian couples. Taiwan also does not currently recognize surrogacy as legal, creating unresolved issues regarding the parental status of children born through such arrangements. The debate reflects the government’s attempt to address societal changes and demographic challenges, particularly concerns about population decline.
    2023/12/04 21:39
  • Taiwan’s female labor force faces challenges post-motherhood

    In 2022, 330,000 Taiwanese women withdrew from the labor market to care for their families, highlighting the challenges women face in balancing work and family life. This trend, coupled with workplace stress and inflexibility, is impacting Taiwan’s birth rate and female labor force participation.
    2023/11/30 10:28
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