Cabinet pick J. W. Kuo draws KMT scrutiny

Cabinet pick J. W. Kuo draws KMT scrutiny

2024-04-17

The Lai administration’s choice of economics minister has drawn sharp criticism from the KMT. On Monday, the incoming government named Topco executive J. W. Kuo for the post. The KMT blasted the decision, raising concerns over Kuo’s past. It said Kuo had helped China set up a semiconductor plant. It also said Kuo had a record of violating the Securities and Exchange Act. Kuo’s company, Topco Group, responded to the latter charge in a statement. It said that, because of a business dispute, it had revised its financial reporting in a way that violated the Securities and Exchange Act. But because it had fully cooperated with authorities and remedied the issue, it received a suspended sentence from the court. On Wednesday, an industry leader urged critics not to be so quick to judge the new appointment.

Paul Hsu
General Chamber of Commerce chair
Don’t judge him prematurely. If he excels in his new role, people will turn around and criticize you. The critics who are going after him now – what they’re doing is not ideal. It’s actually a sacrifice for an industry boss to accept a minister’s salary. Industry bosses would not step down and become ministers if they didn’t have a sense of mission.

Meanwhile, Hon Hai founder Terry Gou gave Kuo a ringing endorsement. He posted on Facebook that Kuo was a, quote, "successful global entrepreneur." The 71-year-old incoming minister is considered a surprise pick for the post. Responding to his intense public scrutiny, Kuo said he can stand up to the test, and that he will use his four decades of experience to take the economy to new heights.

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