Taipei would send a mutual contract termination proposal to Shin Kong Life Insurance today to discuss the surface rights of plots T17 and T18 in Beitou Shilin Science Park, where Nvidia hopes to establish its new headquarters, Taipei Deputy Mayor Lee Shu-chuan (李四川) said yesterday.
Speaking at a news conference, Lee said the city government supports the US artificial intelligence chipmaker’s plan and has asked Shin Kong Life to agree to terminate its existing contract with the city.
Current difficulties center on the surface rights to the two plots, which Shin Kong Life acquired in 2021 under terms prohibiting any transfer before completing construction and obtaining occupancy permits.
Photo: CNA
Although the insurer has expressed willingness to transfer the rights directly to Nvidia, the city said such a move would breach the contract.
Shin Kong Life has held the land rights for three years without breaking ground, Lee said.
Allowing a direct transfer now could raise concerns about unfair treatment toward other bidders in the 2021 tender, he added.
On the other hand, the company said that the city’s proposed terms for terminating the contract would undermine its anticipated benefits and thus harm shareholder interests, potentially exposing company executives to breach-of-trust liabilities.
Lee urged the company to “boldly” detail conditions required to remove any breach of trust concerns so they could be discussed with the city.
Shin Kong Life chairman Mark Wei (魏寶生) said he had not yet received any documents from the city government and was therefore unaware of the details.
He said the company would hold talks with the city once the documents were received and reviewed.
On Wednesday, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) confirmed that Nvidia had requested the ministry to identify alternative sites for its planned headquarters in Taiwan.
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