Shin Kong Mitsukoshi Department Store Co (新光三越) yesterday sealed a deal with the Bureau of High Speed Rail to lease a building at Zuoying Station in Kaohsiung to turn it into a shopping complex.
The nation’s leading chain department store, which won the 10-year operate-transfer (OT) contract last week for NT$505 million (US$15.6 million), will turn the building into a department store, which is slated to open next spring.
The deal will add 4.5 ping (15m²) of floor space to an adjacent Shin Kong department store that has 260,000 ping of floor space and is also due to open next spring.
Wu Tung-hsing (吳東興), chairman of the department store, said he hoped the OT project would enable his company to better serve residents of northern Kaohsiung.
The government-owned building, located between high-speed rail and mass rapid transit stations in Zuoying, has five stories above ground and two stories below ground. The MRT and high-speed rail stations are connected to it underground.
Chang Tze-yu (張子裕), deputy director of the station area development division at the bureau, said the OT project was part of a transit-oriented development plan to generate revenues and boost prosperity near high-speed rail stations. In the contract, the company may extend the lease by five years if it makes a profit in four of the contract’s 10 years.
Wu Nai-tzu (吳奈慈), regional director at Jones Land LaSalle, a property consulting firm, said the transaction promised a fair profitability outlook in light of heavy passenger traffic flow and scarce retail competition in the area.
Taiwan’s long-term economic competitiveness will hinge not only on national champions like Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) but also on the widespread adoption of artificial intelligence (AI) and other emerging technologies, a US-based scholar has said. At a lecture in Taipei on Tuesday, Jeffrey Ding, assistant professor of political science at the George Washington University and author of "Technology and the Rise of Great Powers," argued that historical experience shows that general-purpose technologies (GPTs) — such as electricity, computers and now AI — shape long-term economic advantages through their diffusion across the broader economy. "What really matters is not who pioneers
In a high-security Shenzhen laboratory, Chinese scientists have built what Washington has spent years trying to prevent: a prototype of a machine capable of producing the cutting-edge semiconductor chips that power artificial intelligence (AI), smartphones and weapons central to Western military dominance, Reuters has learned. Completed early this year and undergoing testing, the prototype fills nearly an entire factory floor. It was built by a team of former engineers from Dutch semiconductor giant ASML who reverse-engineered the company’s extreme ultraviolet lithography (EUV) machines, according to two people with knowledge of the project. EUV machines sit at the heart of a technological Cold
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) last week recorded an increase in the number of shareholders to the highest in almost eight months, despite its share price falling 3.38 percent from the previous week, Taiwan Stock Exchange data released on Saturday showed. As of Friday, TSMC had 1.88 million shareholders, the most since the week of April 25 and an increase of 31,870 from the previous week, the data showed. The number of shareholders jumped despite a drop of NT$50 (US$1.59), or 3.38 percent, in TSMC’s share price from a week earlier to NT$1,430, as investors took profits from their earlier gains
TAIWAN VALUE CHAIN: Foxtron is to fully own Luxgen following the transaction and it plans to launch a new electric model, the Foxtron Bria, in Taiwan next year Yulon Motor Co (裕隆汽車) yesterday said that its board of directors approved the disposal of its electric vehicle (EV) unit, Luxgen Motor Co (納智捷汽車), to Foxtron Vehicle Technologies Co (鴻華先進) for NT$787.6 million (US$24.98 million). Foxtron, a half-half joint venture between Yulon affiliate Hua-Chuang Automobile Information Technical Center Co (華創車電) and Hon Hai Precision Industry Co (鴻海精密), expects to wrap up the deal in the first quarter of next year. Foxtron would fully own Luxgen following the transaction, including five car distributing companies, outlets and all employees. The deal is subject to the approval of the Fair Trade Commission, Foxtron said. “Foxtron will be
RSS