Mon, May 30, 2005 - Page 3 News List

Chen recognizes achievements of business magnate


President Chen Shui-bian (陳水扁) yesterday attended the funeral of Tainan business magnate Wu Hsiu-chi (吳修齊), spiritual leader of the famous corporate and industrial clan known as the "Tainan Clan."

At the funeral held at the Southern Taiwan University of Technology in Tainan City, Chen presented the Wu family with a formal citation in recognition of Wu's extraordinary contributions to Taiwan society over the past five decades.

Business leader

Wu, who passed away on May 18 at the age of 93, was the founder of a great number of businesses in several industries, including the textile industry, which was one of the prime reasons behind Taiwan's economic growth during the 1960s and 1970s.

He was also involved in the food and beverage industry and the real estate market, as well as education.

Noting that Wu began in business in the 1950s with little capital and a limited education, Chen lauded him for his success in turning his business into one of the largest conglomerates in Taiwan.

Chen also praised Wu for his integrity, which he said had helped shape the "Tainan Clan" into one of the leading role models that had helped shape the history of Taiwan's business development.

Humble beginnings

A successful businessman who only had an elementary school education, Wu was, however, an ardent supporter of education and social services, the president said.

Wu, who was awarded an honorary doctoral degree from National Cheng Kung University in Tainan City, had also served as senior adviser to the Presidential Office and the Executive Yuan.

Also attending the funeral were several business and political leaders from around the country.

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