Legislators and activists urged the government yesterday to exercise care in appointing the new chairman of state-run China Steel Corp (
Amid speculation about high-level, behind-the-scenes disagreements over who should chair China Steel, the Commission of National Corporations (
At a press conference held by independent legislator Liao Hsueh-kuang (
Activists from Spoonbill Action Voluntary Echo International, Taiwan Environmental Action Network, Taiwan Environmental Protection Union and the Taiwan Labor Front, also said at the press conference that the steel industry was a "sunset industry," which deserved no support from the government.
The new chairman of China Steel's board will receive a NT$6 million annual salary and will be the dominant figure in the allocation of an over NT$60 billion budget for the planned rapid transit system in Kaohsiung, in which the company is the sole investor.
It has been reported that the two leading candidates for the post are Wang Chung-yu (
Yieh-loong has been involved in the proposal for the Pinnan Industrial Complex (濱南工業區) in Tainan together with the Tuntex Group (東帝士集團) since 1993. The environmental impact assessment for the project has not yet received final approval from the Environmental Protection Administration.
Yieh-loong was purchased by China Steel last year after a financial crisis at the company.
Environmentalists, however, say that the two major rivals and frontrunners are both unqualified.
"We are particularly against Kuo, the promoter of an industrial complex that will have a negative impact on the environment, including air pollution and the destruction of a wintering site for the endangered Black-faced Spoonbill," said Pan Han-chiang (
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s