Taiwan’s new economy minister, JW Kuo, is set to take office on May 20. He currently serves as chairman of Topco Scientific, a company that provides supplies to Taiwan Semiconductor Manufacturing Co, the world’s largest chipmaker. This appointment aligns with the presidential inauguration of Lai Ching-te, who will soon become the premier.
Kuo’s extensive international experience and deep ties in the semiconductor industry are expected to bring significant benefits to Taiwan’s export-driven economy. As the overseer of economic development, foreign investment approvals, and energy supplies in Taiwan, the Economy Ministry plays a critical role. It also manages power generation in collaboration with the state-run utility, Taipower, highlighting the importance of stable power supplies.
The soon-to-be premier Cho Jung-tai emphasized Kuo’s expertise in managing energy concerns, particularly in the semiconductor and energy sectors. Kuo is expected to focus on addressing Taiwan’s challenges with power stability, promoting green energy sources, and encouraging energy conservation in the industry. In addition to investing in renewable energy sources and improving its infrastructure for importing liquefied natural gas, Taiwan is also advancing its efforts in renewable energy and power stability.
Although Kuo has not yet disclosed his specific strategic plans after officially assuming his role on May 20th., it is expected that he will do so shortly. Meanwhile Topco Scientific has not issued any statement regarding Kuo’s appointment or whether he will resign from his current position in the company.