Taiwan names former TSMC board member as new economy minister
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Mr Kung Ming-hsin previously sat on the board of chipmaker TSMC as a representative of the government's National Development Fund.
PHOTO: REUTERS
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TAIPEI - The Taiwanese government on Aug 27 announced the appointment of former TSMC board member Kung Ming-hsin as the new economy minister after his predecessor resigned for health reasons and as part of a broader Cabinet reshuffle.
Mr Kung, who is transitioning from his current role as Cabinet secretary-general, previously sat on the board of TSMC as a representative of the government’s National Development Fund, a major shareholder in the world’s largest contract chipmaker.
Taiwan’s Cabinet said in a statement that Mr Kung will “steer the nation’s overall economic strategy, laying the groundwork for the next phase of Taiwan’s industrial, trade and economic infrastructure development”.
Over the past week, Mr Kung’s name had been repeatedly floated as the new economy minister by Taiwanese media.
One of the ministry’s key roles is overseeing Taiwan’s crucial semiconductor sector.
It also enforces controls to ensure that sensitive high-tech goods do not end up in countries subject to export curbs such as China or Russia, and oversees energy policy.
Mr Kung’s predecessor, Mr Kuo Jyh-huei, resigned last week citing health reasons
Mr Kuo was previously a senior executive at TSMC supplier Topco Scientific and assumed the role in May 2024 as President Lai Ching-te’s administration took office.
Mr Lai has had to contend with opposition parties, who form a majority in Parliament, blocking legislation and passing their own, as well as imposing swingeing budget cuts.
Large-scale recall votes against 31 lawmakers from the main opposition party Kuomintang, organised by civil groups but backed by Mr Lai’s ruling Democratic Progressive Party, failed in August and July to remove any of them, further complicating Mr Lai’s governance efforts.
Mr Kuo had also been one of the ministers involved in formulating the government’s response to President Donald Trump’s 20 per cent tariff
Other lawmakers being reshuffled include those in charge of the health and digital affairs ministries, said the Cabinet.
Taiwan’s new sports minister – the ministry will be formally set up only in September – will be Olympic badminton gold medallist Lee Yang, the Cabinet said in its statement. REUTERS
