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Category：Finance

Ministry of Labor announces six common wage-related violations by employers

The Ministry of Labor on Tuesday announced the six most common wage-related offenses by employers. Common methods of wage theft they found included illegal salary deductions for late arrivals and overtime violations. The worst offenders are bus companies, which dismissed overtime under 30 minutes. The labor ministry reminded employers that each violation is fineable up to NT$1 million, and encouraged workers to defend their rights.

Are you getting every cent of your hard-earned cash? According to statistics, 55.6% of salaried workers do not get overtime pay. Last year, local governments across the country issued 2,159 penalties for overtime violations. The Ministry of Labor also found that some employers calculate overtime pay on base salary instead of the total package. It also found that in passenger transportation, where long hours are the norm, employers would illegally dismiss overtime under 30 minutes. Moreover, bus drivers also had their salaries illegally deducted for arriving late or incurring fines on duty.

Yang Tsung-pin
Job bank spokesperson
Employers often exercise implicit coercion, such as claiming that the work is arranged based on designated responsibility, and so workers are only allowed to clock out upon completion of the day’s work. On the other hand, supervisors could still keep tabs on workers’ progress after hours, for example, by sending text messages or emails. Actually, you can save screenshots of these chats or emails, as a basis to claim overtime pay.

Starting on Jan. 1 this year, the minimum monthly wage has been raised to NT$29,500 and minimum hourly wage, NT$196. However, some pay-by-day jobs still only pay NT$1,000 per day. At eight hours, the average hourly wage works out to only NT$125, which is illegal. Moreover, should the regular pay day fall on the weekend or on a holiday, employers are also forbidden of making a late payment without prior agreement. They’re also required to send workers details of wage computation upon each payment.

Huang Chi-ya
Ministry of Labor
Some business entities that get publicized or heavier penalties for repeat offenses usually hope that we’ll remove them from our notice, because it affects their recruitment.

Businesses that violate wage-related labor laws could be fined up to NT$1 million for each count of violation. The Ministry of Labor also encourages workers to stand up for their rights, to avoid becoming victims of wage theft.

For more Taiwan news, tune in:
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#labor #workersrights #laborlaw #wagetheft #jobs

2026-06-19

Hon Hai announces plans for EV production base, chip factory in Poland

Hon Hai is expanding its presence in Central Europe, announcing that it will build a large-scale electric vehicle production base in Poland, along with a semiconductor factory. Hon Hai’s chair Liu Young-way says that an MOU will be signed with a Polish state-owned company as early as the end of this year. He also says the living environment in the Polish science park is similar to that in Taiwan, making it easy for Taiwanese and supply chains to relocate there. Let’s find out more.

Hon Hai is making a fully-fledged push into the electric vehicle business. The latest development is it is expanding its footprint in Poland, Central Europe, by building an electric vehicle production base.

Liu Young-way
Hon Hai chair
Actually, we have already signed an MOU with a Polish state-owned company called EMP. The main source of related technologies for this electric vehicle comes from Hon Hai, including our Foxtron. Electric vehicles or automotive supply chains can all relocate there together.

Hon Hai chair Liu Young-way confirmed that the MOU with the Polish company is expected to be concluded by the end of this year. The two parties will not only join forces to build a large-scale electric vehicle production hub, but also establish a semiconductor factory targeting the European market.

Donald Tusk
Prime Minister of Poland
Our national electric vehicle company EMP will collaborate with Taiwanese partners to create a massive hub in Jaworzno, closely integrated with surrounding industrial and technological ecosystems.

Liu Young-way
Hon Hai chair
The living environment in the whole park is similar to that in Taiwan, so it’s easy for us to relocate.

In addition to Europe, the Taiwan Electrical and Electronic Manufacturers’ Association is also deploying its overseas park plans in the US, including in science parks in Texas and Arizona. Good news is expected before the end of this year, as Taiwanese manufacturers continue to expand their supply chains overseas and expand their global footprints.

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#Foxconn #Honhai #electricvehicles #electriccars #Jaworzno #Donaldtusk #Emp #semiconductors #Taiwansemiconductors

2026-06-18

Rent hikes hits four-year low, but tenants feel no relief

Many young people feel hopeless in the face of Taiwan’s steep property prices and high rents. The latest DGBAS statistics show that growth in rent prices has stayed below 2% over the past five months, and even slipped to a four-year low of 1.76% in May. It seems like rental pressures are easing, but does this translate to actual relief for tenants? One young professional who has been renting in Taipei’s Wanhua District for nearly a decade said he doesn’t dare sign a new contract with his landlord out of fear they’ll raise the rent.

Omo
Renter
I came to Taipei after starting college, and I’m 30 now. Before I settled in my current apartment, I moved basically once a year.

From college to now, Omo has had nearly a decade of experience renting in Taipei. He’s currently in a second-floor apartment near Wanhua Station with three bedrooms, a living room, and one bath for NT$25,000 a month. It’s convenient living near two rail lines with a bus stop 30 seconds from his door.

Omo
Renter
This place is a little bigger than where I lived before and the transport is more convenient. So even though it’s a little more expensive, I think it’s worth it.

According to DGBAS statistics, rents have grown at an average annual rate of less than 2% over the past five months. In May, it reached a four-year low of 1.76%. But to renters, it hasn’t made much of a difference.

Omo
Renter
I haven’t noticed. I have a fixed contract now. If I were to feel the effects of this trend, I’d have to sign a new contract, but there’s no way I’d renegotiate now. If I approached my landlord and said I wanted to sign a new lease, I highly doubt the rent would drop. So unless I had to move to a new place, this market cooldown doesn’t really affect me.

Tseng Ching-te
Real-estate researcher
Rental increases have already plateaued. It’s not like in the past two or three years, which was driven by inflation and rising real-estate prices, which in turn led to relatively dramatic rent hikes.

As salaries fail to keep pace with housing prices, experts recommend easing the financial burden by applying for government rental subsidies. Although rental hikes are finally subsiding, most tenants are still waiting to see any real relief in their bank accounts.

For more Taiwan news, tune in:
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#rent #realestate #Taipei #DGBAS #propertymarket #costofliving #rentalsubsidies #rentindex

2026-06-16

AmCham releases 2026 Taiwan White Paper, lauds ‘golden age’ for economic relations

The American Chamber of Commerce in Taiwan has released the 2026 Taiwan White Paper on Tuesday. According to AmCham Taiwan President Carl Wegner, Taiwan-US economic relations could be said to have entered a golden age. Bilteral trade volume grew by at least 30% on both sides in 2025, and the US has become Taiwan’s largest trading partner, replacing China. Wegner also urged the US to pass a double taxation avoidance agreement, and called on Taiwan to continue bolstering its grid.

The American Chamber of Commerce in Taiwan has released the 2026 Taiwan White Paper, in which 221 suggestions were made to Taiwan and US authorities, including implementing the US-Taiwan trade deal and strengthening drone cooperation.

Carl Wegner
AmCham Taiwan President
Taiwan and the United States are experiencing what some are calling a golden age of economic relations. The United States became Taiwan’s No. 1 trading partner in 2025, for the first time in over 20 decades.

Taiwan and the US are becoming closer economic partners. Last year, Taiwanese exports to the US grew by almost 35%, while US imports to Taiwan, by almost 30%. Bilateral trade volume in 2025 exceeded US$246 billion. The US also became Taiwan’s largest trading partner last year, while Taiwan became the US’ fourth largest.

Carl Wegner
AmCham Taiwan President
Taiwan is one of the Top 10 trading partners with the US. Taiwan is the only country without a dual taxation agreement… for better opportunities for SMEs to go to the US, and also for American companies to come to Taiwan.

AmCham Taiwan urged US lawmakers to swiftly pass a double taxation avoidance agreement, saying that it will benefit Taiwan investors in the US, such as TSMC, and vice versa. It also lauds the progress Taiwan made on its power system, while urging long-term vision on the issue.

Carl Wegner
AmCham Taiwan President
Predictability, stability, continue to enhancing the grid. It’s not a short-term issue. It’s a long-term issue, and we continue to see that making progress.

The US had initiated Section 301 Investigations, and is expected to conclude investigations and hearings by mid-July. Regarding whether a decision will be made on Taiwan, AmCham emphasized that the investigations concern 60 economies worldwide, instead of being targeted at Taiwan. It also called on continued dialogue for closer bilateral relations.

For more Taiwan news, tune in:
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#taiwan #business #amcham #trade #investment

2026-06-16

Taiex surges 1,227 points as US and Iran reaches tentative peace deal

2026-06-15

Famous ‘Palace’ unit sells for NT$650m after 9 years

After nine long years on the market, Taipei’s most infamous unit in “The Palace” has finally sold! After turning up empty-handed across multiple listing cycles, a buyer has finally stepped forward, paying down NT$650 million in cash for the property. But who has this kind of purchasing power? Let’s find out...

Chen Meng-hsuan
FTV reporter
The iconic “Palace” mansion on Renai Road is home to celebrity host Dee Hsu, along with many other political and business elites. The unit on the 21st floor of Building D, known as the “legendary Palace unit,” has finally found a new owner after nine years on the market.

Formerly the most expensive unit in the complex, the property boasts a huge living room that easily accommodates three sofas with space left over for a grand piano. The dining room has a 10-person table, while in the master suite, the walk-in closet alone is 10 ping. Formed by joining two units and with four parking spaces, the floor area is a massive 316 ping, or 1,045 square meters. It was finally sold to a private individual from Hualien surnamed Hsieh for NT$650 million.

Huang Shu-wei
Real-estate expert
The orientation is excellent, right at the center. Both the layout and finishes are top-of-the-line. But since luxury home mortgages in Taiwan are capped at 30% financing, any prospective buyer would need a lot of leverage, so the turnover for this property was low compared to the broader market.

Even though it closed for NT$120 million less than the previous owner, it’s still a premium over other luxury properties. The latest filings show that this 20-year-old unit, which underwent extensive renovations by the previous owner, socialite Lu Sheng-wen, officially transferred ownership in May. And the buyer didn’t take out a mortgage, choosing instead to pay in cash.

Huang Shu-wei
Real-estate expert
The individuals who buy luxury properties are either planning to live there, or are diversifying their assets. Therefore, they have strong pools of liquid capital and don’t have much need for a loan.

After going on the market many times over the past decade, the unit has finally found a new owner. But since the closing price was revised downward, its cost has slipped from a high of NT$2.9 million per ping, to NT$2.2 million, proving that “The Palace” isn’t what it used to be.

For more Taiwan news, tune in:
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#ThePalace #luxuryapartment #property #realestate #Taipei #housing #highnetworth

2026-06-15

Pingtung Science Park breaks ground on chip supply chain zone

Taiwan’s semiconductor industry is expanding further south. President Lai Ching-te and TSMC Chairman C.C. Wei traveled to Pingtung today to break ground on a new semiconductor supply chain zone at the Pingtung Science Park. The project is expected to attract seven suppliers and establish a major high-tech industry cluster in the county. Even heavy rain and thunderstorms couldn’t dampen spirits, as officials hailed the development as a major milestone for Pingtung’s economic future.

President Lai Ching-te and TSMC CEO C.C. Wei joined other guests in shoveling golden soil, for the groundbreaking ceremony of the Semiconductor Supply Chain Zone at the Pingtung Science Park.

The Pingtung Science Park has designated a 28-hectare semiconductor supply chain zone, with TSMC overseeing the overall planning of the project. Seven suppliers are expected to establish operations there, marking the official arrival of a semiconductor industry cluster in Pingtung.

Lai Ching-te
President
Pingtung now possesses more than just a stock certificate. It has companies in the semiconductor industry, TSMC, and an entire industrial supply chain. Pingtung’s future is looking promising. Congratulations!

TSMC’s expansion to Pingtung is a major milestone. The company’s CEO was due to travel to the US, and would’ve been absent from the event, had it not been for an invitation by Lai. It was a dramatic start for the project, with heavy rains and roaring thunder throughout the ceremony.

C.C. Wei
TSMC CEO
This heavy downpour makes me so happy. Just last month I was wondering how we would sort out our water supply, and whether we’d end up needing water trucks. We were prepared to take action. When I heard the thunder, I thought it was fireworks arranged by the organizers. I didn’t realize pyrotechnic technology had come so advanced and loud!

The thunderstorm created puddles of water that were quickly swept away by staff. Despite the disruption, attendees chose to see the rain as a sign of good fortune, and a blessing for the future of Pingtung’s high tech industry.

For more Taiwan news, tune in:
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#pingtung #technology #tsmc #thunder #downpour #ccwei #laichingte

2026-06-12

Grab holds presser ahead of planned Taiwan expansion

2026-06-09

Vendor scales down banquet menu for sustainable small gatherings

Traditional “ban-doh” banquets don’t have to be shared by 10 people anymore! Hoping to serve demand for smaller group meals, one caterer has scaled back the portions into just enough for four. While preserving the must-have classics for any banquet, they also incorporated some creative and sustainable concepts, like serving appetizers inside ice cream cones. Tailored perfectly for individual portions, it’s a whole new way to enjoy traditional banquet culture.

Velvety mashed potatoes with chickpeas, salad greens, and maple syrup are tossed together and drizzled with mayonnaise before being topped with a single fresh shrimp and a final dusting of rainbow sprinkles. It might look like an ice cream cone, but it’s actually an appetizer for a traditional “ban-doh” banquet.

Chung Chia-pin
Legislator (DPP)
It’s my first time having a shrimp salad in an ice cream cone. It’s a new experience. Since smaller gatherings of three to five close friends are the norm now, a four-person banquet over two tables is ideal.

Catering to small households, single people, and intimate gatherings, this caterer scaled down the traditional 10-person banquet to serve only four people. The classic sticky rice cake is served in neat, compact portions, while the fish course is plated to resemble a bird in flight to symbolize “soaring to great heights.” The cabbage is arranged into delicate flowers to symbolize wealth and prosperity. Individual servings are the focus in this new style of catering, ensuring that everyone can eat their fill without producing too much waste.

Wu Yung-chiang
Association of Chain and Franchise Promotion
Whether it’s for the wedding sector or the broader food and beverage market, requests are becoming more customized and group sizes are shrinking across the board. A four-person package is usually under NT$10,000, a little over NT$9,000, and includes transport, DIY workshops, and a whole slate of other activities.

Beyond pushing culinary boundaries, this vendor is also incorporating principles of sustainability. The entire venue uses energy-saving facilities and has 110 bald cypress trees on the property for visitors to immerse themselves in nature while dining. They’ve also enlisted other eco-conscious brands to join in the sustainable movement, hoping this low-waste dining model will catch on across the traditional banquet market.

For more Taiwan news, tune in:
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#banquet #traditionalbanquet #bandoh #sustainability #foodwaste #greendining #catering

2026-06-09

Taiwan shares freefall dragged by sharp sell-offs in US, Japan

2026-06-08