Straits Exchange Foundation (SEF) Chairman Chiang Pin-kung (江丙坤) made an emotional appeal in a press release yesterday, rebutting the “false accusations” against him and his eldest son, Michael Chiang (江俊德), concerning alleged investments in China and profiteering from state-run companies.
Next Magazine reported yesterday that Chiang Pin-kung used his position as the minister of economic affairs in 1994 to help his son’s company, Istra Corp, by demanding that state-run steel business Kuei Yi Enterprise purchase items from Istra at a high price.
The magazine said the father-son duo had profited by brokering deals between Kuei Yi and other foreign companies, one of which turned out to be an international fraud ring.
Kuei Yi has been reorganized and renamed Dragon Steel after losing more than NT$5.2 billion (US$170 million).
“My eldest son sacrificed his own chances to advance his education to help raise his younger sister and brothers ... I have always made a strict request that he should never be involved in any state-run businesses,” the SEF chairman said in a statement.
Chiang Pin-kung also said in his statement that he had not played a role in the formation of Kuei Yi Enterprise as alleged in the article, adding that a court had already found that Istra had no relationship with Kuei Yi.
The recent accusations leveled against him, his family and SEF General-Secretary Kao Kong-lian (高孔廉) are probably “politically motivated to purposely tarnish the image of the organization [the SEF] and to impede the progress of peaceful cross-strait developments,” the SEF head said, stressing that his position as chairman was unpaid.
Democratic Progressive Party legislators were not convinced, however, and called on Chiang Pin-kung to step down.
ADDITIONAL REPORTING BY STAFF WRITER
Taipei has once again made it to the top 100 in Oxford Economics’ Global Cities Index 2025 report, moving up five places from last year to 60. The annual index, which was published last month, evaluated 1,000 of the most populated metropolises based on five indices — economics, human capital, quality of life, environment and governance. New York maintained its top spot this year, placing first in the economics index thanks to the strength of its vibrant financial industry and economic stability. Taipei ranked 263rd in economics, 44th in human capital, 15th in quality of life, 284th for environment and 75th in governance,
The Sports Administration yesterday demanded an apology from the national table tennis association for barring 17-year-old Yeh Yi-tian (葉伊恬) from competing in the upcoming World Table Tennis (WTT) United States Smash tournament in Las Vegas this July. The sports agency said in a statement that the Chinese Taipei Table Tennis Association (CTTTA) must explain to the public why it withdrew Yeh from the WTT tournament in Las Vegas. The sports agency said it contacted the association to express its disapproval of the decision-making process after receiving a complaint from Yeh’s coach, Chuang
Control Yuan Secretary-General Lee Chun-yi (李俊俋) tendered his resignation last night, admitting that he had misused a government vehicle, as reported by media. His resignation was immediately accepted by the Control Yuan. In a statement explaining why he had resigned, Lee apologized for using a Control Yuan vehicle to transport his dog to a pet grooming salon on May 20. The issue first came to light late last month, when TVBS News reported that Lee had instructed his driver to take the dog to the salon. The news channel broadcast photos that it said were taken by an unnamed whistle-blower, which purportedly showed the
A former officer in China’s People’s Liberation Army (PLA) who witnessed the aftermath of the 1989 Tiananmen Square massacre has warned that Taiwan could face a similar fate if China attempts to unify the country by force. Li Xiaoming (李曉明), who was deployed to Beijing as a junior officer during the crackdown, said Taiwanese people should study the massacre carefully, because it offers a glimpse of what Beijing is willing to do to suppress dissent. “What happened in Tiananmen Square could happen in Taiwan too,” Li told CNA in a May 22 interview, ahead of the massacre’s 36th anniversary. “If Taiwanese students or
RSS