Every week, we'll select Taiwan's five business news from the previous week for your review.
Taiwan Semiconductor Manufacturing Co. (TSMC) is planning to build new factories in Kaohsiung, Tainan and Taichung over the next three years, the head of the Cabinet's policy-planning agency said Thursday.
South Korea replaced Japan as the largest trade deficit country for Taiwan in the first 10 months of this year, with Seoul the main supplier of electronic components to Taipei's artificial intelligence developers, according to the Ministry of Finance (MOF).
E-commerce company Momo opened its new south Taiwan distribution center in Tainan on Wednesday (Nov. 20). With an investment of over NT$3 billion (US$92.28 million), the center is the largest warehouse in the south of the country, per CNA. The company said it is expected to ship more than 50 million items annually and create over 500 jobs.
President Lai Ching-te (賴清德) on Monday (Nov. 18) called for an economic partnership agreement with the European Union.Speaking at the Taiwan-EU Investment Forum in Taipei, Lai emphasized the need for the two sides to create a "strong democratic umbrella" to counter growing authoritarianism and establish secure supply chains for global democracies. He said a partnership agreement would provide an institutional framework to deepen cooperation in semiconductors, artificial intelligence (AI), and other advanced technologies, per Reuters.
Unemployment in Taiwan stood at just under 3.4% in October, a fraction down from September and marking the lowest level for the month in 24 years.
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