Business and Finance

Taiwan’s Ministry of Economic Affairs: TSMC to build R&D center in Hsinchu Science Park

Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s largest contract chipmaker, said on Feb. 26 that it is planning to build a research and development center in Hsinchu Science Park, according to Taiwan’s Ministry of Economic Affairs

Taiwan News 
Date: 2018/03/04
By: George Liao, Taiwan News, Staff Writer

TAIPEI (Taiwan News)–Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s

Photo courtesy of Taiwan Semiconductor Manufacturing Company

largest contract chipmaker, said on Feb. 26 that it is planning to build a research and development center in Hsinchu Science Park, according to Taiwan’s Ministry of Economic Affairs citing other news sources.

The application for the establishment of the new R&D center has recently been approved by the Ministry of Science and Technology pending an environmental impact assessment, the MOEA said in a news release on Friday.

Construction of the R&D center, which will cover about 30 hectares near the company’s headquarters, will begin at the end of 2019 and is expected to be completed by 2021, according to the release. The cost of the project has been estimated by local media at roughly NT$100 billion (US$3.42 billion), the release said.

Meanwhile, TSMC is working on putting 7nm, 5nm and 3nm processes into production. Currently, the company’s most advanced technology in commercial production is the 10nm process.     [FULL  STORY]

Taipower told to consult public on potential nuclear waste site

Focus Taiwan
Date: 2018/03/04
By: Chu Tze-wei, Cheng Cheng-wei, Elaine Hou, Wen Kui-hsiang and 
Elizabeth Hsu

Taipei, March 4 (CNA) Taiwan’s Atomic Energy Council (AEC) on Sunday issued a

CNA file photo

directive for the country’s main power supplier to consult with residents on any plans to build a nuclear waste facility in their neighborhood.

Furthermore, in its search for a nuclear waste disposal site, the state-run Taiwan Power Co. (Taipower) should look at “all areas in Taiwan, including the outlying islands,” and should not limit its options to scantly populated or uninhabited islands, the AEC said in a statement.

When Taipower identifies a potentially suitable site, it should communicate with the people in the area and respect their rights, interests and views on the proposal to build such a facility close to their homes, the AEC said.    [FULL  STORY]

US tariffs will hurt free trade: ministry

RESERVED RESPONSE: The ministry said it would wait to see how the aluminum and steel tariffs will be enforced, while there has been a flurry of threats from other nations

Taipei Times
Date: Mar 05, 2018
By: Staff writer, with CNA and AFP

The US’ plan to impose tariffs on imported steel and aluminum would undermine free trade in the global market, the Ministry of Economic Affairs said on Friday last week.

The comments came after US President Donald Trump on Thursday said that his administration would impose tariffs on steel and aluminum imports as early as next week.

The US plans to order tariffs of 25 percent on steel imports and 10 percent on aluminum, but it remains unclear whether the high duties are to be applied to imports from all countries.

The ministry said it would wait to see how the US implements the tariffs before assessing their effects on Taiwanese exporters, but stressed that such measures reflect the trade protectionism that Trump has advocated and would no doubt negatively affect global trade.    [FULL  STORY]

Housing transactions in 6 major cities up almost 10% in 2 months

Focus Taiwan
Date: 2018/03/03
By: Wei Shu and Frances Huang

Taipei, March 3 (CNA) In the first two months of this year, transactions of residential and commercial property in the six largest cities in Taiwan grew almost 10 percent from a year earlier as the local property market continued its uptrend from last year.

According to data released by the governments of the six major municipalities — Taipei, New Taipei, Taoyuan, Taichung, Tainan and Kaohsiung — transactions of homes, offices and shops during the January-February period rose 9.76 percent from a year earlier to 30,640 units.

The growth in the two months followed an 11.85 percent year-on-year increase in 2017, when housing transactions in the cities posted a year-on-year increase for the first time in four years.    [FULL  STORY]

Taiwan News Encyclopedia: A Price Increase in Tissue Paper

Radio Taiwan International
Date: 2018-03-03

The price of tissue paper, both imported and locally-produced, is set to go up between 10% and 30% in mid-March. The increase, which is due to a rise in global pulp and oil prices, has driven people to empty shelves at wholesale stores in a scramble to stock up. To ease public concerns, Premier William Lai said earlier this week that there is a steady supply of tissue paper and that the price for other daily necessities is “extremely stable” this year.

The local think tank Taiwan Institute of Economic Research (TIER) says that price hikes on tissue paper and soft drinks will have little impact on the overall price of basic goods because they make up a tiny proportion of daily expenditures. Still, economists are cautioning against a knock-on effect, saying that if the price for everyday goods increases over 1.5% and continues for a few months, it will be a cause for concern.

Currently, inflation in Taiwan stands below 1%. TIER economists have called on the government’s price stabilizing task force to pay more attention to the issue of inflation, as the rise in tissue paper prices could be the prelude to rising prices in other areas.
[FULL  STORY]

VP Chen touts effectiveness of government policies in boosting Taiwan tourism

The vice president made remarks on impressive gains in Taiwan visitor numbers

Taiwan News  
Date: 2018/03/03
By: Taiwan Today,Agencies

TAIPEI (Taiwan Today) — Despite the local sector going through a structural transition last

VP Chen Chien-jen outlines government policies at the Taiwan Tourism Festival March 1 (Courtesy of Office of the President)

year, Taiwan welcomed a record 10.74 million tourists, Chen said. The credit for this accomplishment largely goes to close public-private sector collaboration, he added.

The vice president made the remarks during the launch of the 2018 Tourism Festival in Taipei City. An initiative of the Tourism Bureau under the Ministry of Transportation and Communications, the annual event coincides with the Lantern Festival falling on the 15th day of the first lunar month.

According to Chen, some of the most impressive gains in visitor numbers during the same period were recorded by New Southbound Policy target countries. A surge of 30 percent took this figure to over 2 million for the first time and accounted for 20 percent of the total, he said.    [FULL  STORY]

Two-year fall in manufacturing output reversed in 2017

Focus Taiwan
Date: 2018/03/03
By: Liao Yu-yang and Frances Huang

Taipei, March 3 (CNA) In the wake of stronger global demand, the production value of the local manufacturing sector in 2017 increased year-on-year, ending a two year fall in output, according to the Ministry of Economic Affairs (MOEA).

Data compiled by the ministry shows that output generated by local manufacturers in 2017 rose 5.85 percent from a year earlier to NT$13.04 trillion (US$445 billion).

The growth stopped a two-year decline after a 10.84 percent drop in 2015 and a 4.26 percent year-on-year decline in 2016, the data showed.

The MOEA said the electronic components industry, which accounted for almost 30 percent of total output in the local manufacturing sector, posted NT$3.67 trillion in production value in 2017, up 3.54 percent from a year earlier.    [FULL  STORY]

Economics Ministry: US tariff on steel imports hurts free trade

Radio Taiwan International
Date: 2018-03-02

The economics ministry says that the United States’ new tariff on steel imports is rooted in protectionism and will damage international free trade.

The ministry was responding Friday to US President Donald Trump’s announcement that a 25% tariff will be imposed on steel imports and a 10% tariff imposed on aluminum imports from next week. The announcement has also drawn heavy protest from EU members and China.

Last year, the United States imported US$3.6 billion worth of steel products from Taiwan, a figure accounting for nearly 6% of total US steel imports. The economics ministry says it remains to be seen whether the new tariff will be added on top of existing tariffs.
[FULL  STORY]

Taiwan condemns Trump tariffs on steel as damaging free trade

U.S. imports more than 5 percent of its steel products from Taiwan

Taiwan News 
Date: 2018/03/02
By: Matthew Strong, Taiwan News, Staff Writer

TAIPEI (Taiwan News) – The plan by United States President Donald Trump to slap tariffs

Taiwan condemns steel tariffs as damaging to free trade. (By Central News Agency)

on steel and aluminum imports will damage global free trade, the Ministry of Economic Affairs (MOEA) said Friday.

The U.S. president’s statement provoked angry reactions from all over the world, while stock markets, including New York’s Dow Jones, plunged on fears of trade wars. Trump said steel imports would face a tariff of 25 percent and aluminum imports 10 percent.

The impact of the measures on Taiwanese manufacturers was still difficult to estimate as no details had been revealed yet, the MOEA said, as reported by the Central News Agency. However, since they had been motivated by trade protectionism, they were not a positive development from the view of global trade, the ministry added.    [FULL  STORY]

Mobile payment supported at Lantern Festival cashless market

Focus Taiwan
Date: 2018/03/02
By: Jiang Ming-yan and Kuan-lin Liu

Taipei, March 2 (CNA) A cashless market at the 2018 Taiwan Lantern Festival in Chiayi

Image taken from Pixabay

County makes this year’s festival the most convenient one to date, as vendors are accepting purchases made via Apple Pay, Android Pay, Samsung Pay and other domestic mobile payment apps.

The market, which debuted Feb. 16 along with the start of this year’s Taiwan Lantern Festival, offers a wide variety of payment methods, including credit cards, contactless smart cards and even mobile payment apps.

With both the central and local governments eagerly promoting the use of mobile payment apps, vendors at the market have been supporting not only the big three mobile payment apps — Apple Pay, Android Pay and Samsung Pay — but also a few local ones as well.

Chunghua Telecom Co., which has been a sponsor of the main lantern of the festival for the past 20 years, has made sure that its own mobile payment app — the Hami Wallet — is supported at the market.   [FULL  STORY]