Published since 2019 by the Fair Winds Foundation and Association of Foreign Relations, Taiwan Weekly provides in-depth report and analysis of the major issues facing Taiwan.
Devising Budget for Hai Kun Submarine Mass Production Before Sea Trials May Risk Serious Cost Misrepresentation
The central government budget for next year includes an allocation of NT$647 billion (about US$20.2 billion) for national defense. As part of this, Premier Cho Jung-tai approved a 14-year mass production budget totaling NT$284 billion (about US$8.8 billion) for the domestic submarine construction program. Next year, over NT$2 billion (about US$62.6 million) will be allocated as the initial installment. According to military expert Chung Chieh, the administration of President Lai Ching-te intends to leverage the Legislative Yuan's review of the first year's budget to secure approval for subsequent years. However, there are concerns that the budget may be inaccurate if the prototype Hai Kun-class submarine has not undergone sea trials before mass production funding is finalized.
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With High Price Offer, CTBC Shows Determination to Take Shin Kong
CTBC Financial Holding Company announced last night that it plans to acquire 51 percent of shares of Shin Kong Financial Holding Company at the price of NT$14.55 (US$0.46) per share (cash and stock swap), which is 16.86 percent higher than Shin Kong Financial’s share price. This plan also represents CTBC Financial’s largest shareholder Jeffrey Koo, Jr.’s masterpiece after he returned to the board of directors and is the most notable event in financial circles.
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This Week in Taiwan 0818-0824
August 18: Minister of Transportation and Communications Lee Meng-yen was exposed to have been involved in a 10-year extramarital affair with a mainland Chinese woman. He promptly submitted his resignation which was approved, becoming the second cabinet member in the administration of President Lai Ching-te to resign. His tenure lasted only 92 days. The woman is a mainland spouse attracting attention not only for her marital status but also due to her connection to a development project under businessman Chang Kang-wei's company, which has been accused of embezzling funds from Far Eastern Air Transport. This revelation has sparked much speculation.
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Executive Yuan Admits 20 Billion kWh Power Deficit in Northern Taiwan Last Year
The Executive Yuan led by Premier Cho Jung-tai has repeatedly assured that Taiwan will not face a power shortage by 2030. However, Chairman Tseng Wen-sheng of the Taiwan Power Company (Taipower) recently announced that data centers consuming over 5 MW of electricity in northern Taiwan would not be provided power. The policy has been met criticized as discriminatory and contrary to the no-shortage claims.
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Power Shortage Nightmare: Lifeline of High-Tech Industry in Taipower Chairman's Hands
During the administration of President Tsai Ing-wen from 2016 to 2024, the energy transition plan focused not only on reducing carbon emissions with "increasing natural gas" and "reducing coal," but also emphasized the ruling Democratic Progressive Party's (DPP) commitment to a "nuclear-free" policy and the expansion of green energy to enhance energy independence. The energy mix for 2025 was set in 2016 to be 50 percent natural gas, 30 percent coal, and 20 percent renewable energy. Eight years later, while the nuclear-free goal has been achieved, progress on the other three fronts has lagged behind. The Ministry of Economic Affairs (MOEA) had already revised the 2025 target for renewable energy generation down to 15.2 percent as early as January of 2024. The failure of this transition has come at the cost of stable power supply, leading to the ongoing nightmare of power shortages.
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Investigation on False Accounts Kills Two Birds: Reduces Ko to Original Amateur Image and Restrains KMT-TPP Alliance
Allegations of false accountsemerged regarding political donations to Chairman Ko Wen-je of the Taiwan People’s Party (TPP) during the 2024 presidential election. The Taipei District Prosecutor's Office alleges that accountant Tuan Mu-cheng and public relations company executive Lee Wen-chuan were involved in the crime of forgery, and ordered them to post bail, with restrictions against traveling abroad and electronic monitoring. Ko thought that it would be normal for him to be questioned by the authority, but he also muttered, "If the government of the Republic of China was so efficient," he would be happy to comply.
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This Week in Taiwan 0811-0817
August 12:<br /> <br /> Nearly 60 American and Japanese lawmakers jointly called for leaders of both countries to replace "obstructive actions" with "strong diplomatic measures" and avoid a tough attitude towards China in order to ease escalating tensions in the Taiwan Strait and avoid potential conflict.
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Reporting Mailbox on Taiwan Independence May Deepen Internal Divisions, Liang Has Grounds to Worry
In late June, mainland China enacted new regulations targeting Taiwan independence advocates, heightening internal divisions in Taiwan.
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Column: Fascist Aesthetics of Zero Day Attack—War-Glorifying Anti-China Drama
In the final scene of the trailer for the Taiwanese television drama Zero Day Attack, a young man, fleeing with his family, on the way suddenly decides to enlist in the Armed Forces.
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Not Ideal Time for President Lai to Transit Through U.S.
According to media reports, President Lai Ching-te had planned to visit Paraguay, Taiwan’s diplomatic ally in South America, before transiting through the United States. The Office of the President denied these reports.
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