ICRT Radio News
Date: 2018/07/22

President Tsai has declared that this year’s local elections slated for November will have historic significance. It will be the first time that the assets the KMT has amassed since relocating to Taiwan will not be used for electioneering. The opposition is not permitted to dip into its assets – worth NT$18.9 billion — as they have been frozen by a government committee.

There is a special aspect to the 2018 local elections. For the first time in post-World War II Taiwan, the KMT’s party assets will not be heavily involved in an election.

During a conference with NGOs, President Tsai Ing-wen pointed to an investigation of the KMT’s party assets. According to a Control Yuan report outlining the KMT’s declared party assets for the year 2017, the KMT has NT$380 million in cash and bank deposits and real estate worth NT$910 million. In addition, it has NT$1.33 billion in restricted assets, as well as assets in trust to the tune of NT$720 million. The KMT’s asset holding companies Hsinyuntai and the Central Investment Corporation collectively are worth NT$15.6 billion. Overall, the KMT’s assets amount to NT$18.9 billion. However, all this wealth has been frozen by the Ill-gotten Party Assets Settlement Committee. The KMT needs to make an application with the committee if it ever wants to use it.   [FULL  STORY]