Taiwan Solidarity Union (TSU) Chairman Huang Kun-huei (黃昆輝) yesterday denied a media report that he has been feuding with former president Lee Teng-hui (李登輝) over the alleged misuse of funds at Lee’s foundation and the operation of the TSU.
Describing the report published yesterday by the Chinese-language Next Magazine as “malicious slander” and “plainly wrong,” Huang told a press conference that he did not misuse the funds of the Lee Lien Educational Foundation, which Lee established in 1996, on stock investment.
Neither has his respect for Lee changed over the years during which he served under and worked with the former president, Huang said, adding that the TSU still views the 89-year-old Lee as its spiritual leader.
The magazine reported that Huang’s relationship with Lee had turned sour after Huang, the foundation’s chairman, made bad investment decisions on stocks with the foundation’s funds, which shrank from NT$170 million (US$5.7 million) to NT$50 million.
According to the report, Huang rejected Lee’s request to close the foundation and use the remaining funds to establish a memorial library for the former president.
It also reported that Lee was displeased with the TSU’s poor showing in the elections in 2008 and 2010 under Huang’s leadership and had subsequently decided to distance himself from the party, saying on May 17 that he “no longer has a relationship with the TSU.”
The foundation’s investment decisions were made by investment consulting firms, Huang said, adding that he had received approval from board members on April 25 to dissolve the foundation and donate its funds to the library.