Taiwan is known for its busy cities and rich culture. Over the last ten years, the population in its major cities has changed a lot due to urban growth, job opportunities, and shifts in demographics. This article explores the population dynamics of Taiwan's major cities from 2014 to 2024, providing insights into growth patterns, regional changes, and the factors influencing these developments.

Comparing Population Changes: 2014 vs. 2024

Each of Taiwan’s major cities has its own unique role, combining cultural heritage with economic and technological strengths. New Taipei City, the most populous with 4,010,657 residents, acts as a suburban extension of Taipei, drawing families and commuters with its affordable housing and excellent transportation.

Kaohsiung, home to 2,773,786 people, is shifting away from heavy industry toward a more diverse economy that emphasizes tourism and renewable energy. Taichung, with a population of 2,811,729, is known as a cultural center, boasting a mild climate and a focus on sustainable urban development.

Taipei City, the capital with 2,650,154 residents, remains the political and economic heart of Taiwan, even as high living costs drive some people to move elsewhere. Taoyuan, home to 2,240,328 people, has grown as an industrial and logistics hub, while Tainan’s 1,881,730 residents enjoy its rich history and tourism-driven economy.

Hsinchu, known as Taiwan’s “Silicon Valley,” has a population of 447,781 and continues to expand thanks to its booming tech sector. In contrast, Keelung, with 369,305 residents, and Chiayi, with 268,068, experience slower growth due to their focus on maritime and agricultural industries.

1. Growth:

   • Taichung and Taoyuan experienced the largest population growth. Taoyuan’s booming industrial sector and Taichung’s central location and strong economy have been key drivers of this trend. Both cities have also focused on improving infrastructure and promoting sustainable urban development.

2. Declining Cities:

   • Taipei and Kaohsiung saw population declines due to suburbanization, industrial changes, and younger people moving to other cities for better opportunities. High living costs in Taipei and economic shifts in Kaohsiung were major factors behind these trends.

Urbanization and Suburbanization

Taiwan’s urbanization and suburbanization trends are shaped by economic, social, and infrastructural developments. Taoyuan, for instance, has experienced substantial growth due to its role as an industrial hub and its strategic proximity to Taiwan Taoyuan International Airport.

The city’s population rose by over 103,000 between 2014 and 2024, driven by the expansion of industrial parks and the presence of global tech companies. Similarly, New Taipei City has emerged as a suburban extension of Taipei, offering more affordable housing and better access to the capital through robust transportation networks like the Taipei Metro and intercity railways. This connectivity has encouraged families and commuters to relocate, contributing to its population increase of 35,746 over the same period.

In contrast, Taipei City has faced population declines due to its high living costs, which have risen significantly over the decade. Between 2014 and 2024, the cost of living in Taipei increased by approximately 20%, driven by soaring real estate prices and inflation in essential goods and services. These economic pressures have driven many residents to seek alternatives in nearby suburbs.

New Taipei has absorbed much of this outflow, becoming a magnet for those looking for a balance between urban amenities and affordable living. The suburban shift, enabled by expanding infrastructure and housing developments, illustrates how affordability and connectivity are reshaping Taiwan’s metropolitan regions.

Economic Shifts

Economic opportunities strongly influence population trends, with cities like Hsinchu and Taoyuan seeing growth due to their thriving industries. Hsinchu, known as Taiwan’s “Silicon Valley,” has seen steady population increases as tech companies like TSMC expand their operations. Between 2014 and 2024, over 25 high-tech factories and research centers were established in the city, further cementing its status as a global tech hub and drawing thousands of skilled workers.

Taoyuan’s industrial growth, particularly in logistics and manufacturing, has similarly spurred population growth. The city’s industrial parks house more than 4,000 companies as of 2024, including major global players, making it one of Taiwan’s fastest-growing regions.

In contrast, Kaohsiung has faced population challenges due to the decline of traditional heavy industries, such as steel and shipbuilding, which collectively saw a reduction in output by nearly 30% between 2014 and 2024. The number of operational steel plants and shipyards in the city dropped by approximately 20% over this period, reflecting broader shifts in global manufacturing and trade patterns. Efforts to diversify into tourism and creative sectors have been slow to compensate for the loss of industrial jobs, resulting in a net population decline and slower economic recovery.

Aging Population

Taiwan’s aging population is a key factor influencing demographic shifts. Smaller cities like Chiayi and Keelung, which lack robust economic opportunities, are seeing younger generations migrate to larger urban centers in search of better prospects. This demographic imbalance has left these cities with older populations and slower economic growth.

National statistics highlight that by 2024, over 16% of Taiwan’s population was aged 65 or older, with smaller cities experiencing the most pronounced aging trends. For instance, Chiayi’s slower economy has led to consistent out-migration among youth, while Keelung faces similar challenges due to its limited diversification beyond port-related industries.

Taoyuan and Taichung Rise in Population

Rising living costs in Taipei and shifts in industrial production have pushed many residents to seek opportunities in cities that offer a better balance between affordability and employment stability. This has led to significant population growth in cities like Taoyuan and Taichung, where thriving industries, economic opportunities, and sustainable urban development make them attractive destinations for workers and families.

However, this trend has also created challenges for other cities facing stagnant or declining populations. With fewer people in the productive age range (20s to 40s), many cities outside of high-growth areas like Taoyuan and Taichung are struggling with workforce shortages. This imbalance could hinder economic development and exacerbate regional disparities in the long term.

Tech Spotlights

• TSMC CEO C.C. Wei said U.S. regulatory hurdles are delaying the Arizona plant, preventing it from adopting the company’s most advanced chip technology ahead of Taiwan. Meanwhile, Samsung is leveraging U.S. Chips Act incentives to produce advanced 2nm and 3nm chips in Texas by 2026, directly competing with TSMC. CCN

• Taiwanese HTC announced it will sell part of its extended reality (XR) unit to Google for $250 million, transferring some employees while retaining non-exclusive rights to its intellectual property. The deal, set to close in Q1 2025, aims to accelerate Android XR platform development and strengthen the ecosystem for headsets and glasses. CNA

• Winbond Electronics has joined the SEMI Silicon Photonics Industry Alliance, aiming to explore silicon photonics for future AI applications and collaborate with other members. The alliance, led by TSMC, focuses on developing energy-efficient semiconductors and has grown to over 80 members since its launch in September. Taiwan News

• Chelpis Quantum Corp. is collaborating with Peter Schwabe of Germany’s Max Planck Institute to develop post-quantum cryptography to counter threats like “harvest now, decrypt later.” Schwabe emphasizes Taiwan’s role as a cryptography hub, leveraging its expertise in secure systems, semiconductor manufacturing, and hardware solutions for quantum-resistant technology. Taiwan News

Politics

• Chinese leader Xi Jinping’s focus on Taiwan is driven by operational, political, and psychological motivations, including breaking the first island chain and undermining U.S. influence in Asia. While skeptics cite numerous reasons why an invasion is unlikely, underestimating China’s growing military capabilities and Xi's ambitions poses significant risks, requiring the U.S. to act swiftly to counter potential threats. Real Clear Defense

• Taiwan's opposition-controlled parliament approved NT$207.5 billion in budget cuts, reducing the government's proposed NT$3.1 trillion budget for 2025, with significant impacts on defense and other sectors. The DPP criticized the cuts as harmful to governance and security, while opposition leaders framed them as a way to return funds to the public. CNA

• Legislative Yuan President Han Kuo-yu attended Donald Trump’s inauguration, leading a bipartisan Taiwanese delegation amid escalating domestic political tensions. The move highlights efforts by President Lai Ching-te to foster dialogue with the opposition despite ongoing clashes over budget cuts and judicial reforms. The Diplomat

• Taiwan's Legislature approved a 2025 central government budget of NT$2.92 trillion, with nearly 7% in cuts after heated debates between ruling and opposition lawmakers. The cuts, including significant reductions in defense and energy funding, have drawn criticism from the ruling Democratic Progressive Party (DPP) for potentially disrupting essential government functions. Focus Taiwan

Finance Focus

• The Netherlands has exempted ASML’s sales of lithography machines to China from dual-use export laws, enabling $7 billion in exports without disclosing details. While the U.S. pushes for stricter controls, the Dutch government limits restrictions to advanced EUV machines to protect its economic interests. ITdaily

• A 6.4 magnitude earthquake struck southern Taiwan near Chiayi, causing minor damage and prompting TSMC to evacuate staff from its central and southern factories, with all reported safe. The quake, which also shook Taipei, caused power outages and building damage in some areas, but no major casualties have been reported so far. Reuters

• Gudeng Precision aims to grow its revenue to NT$10 billion in 2025, driven by strong AI demand for wafer delivery pods and advanced packaging technology. Its core wafer pod business, EUV pods, and a growing aviation subsidiary are expected to fuel this 53% growth, following NT$6.55 billion in revenue last year. Taipei Times

Global Focus

• The Taiwan-Japan fisheries agreement establishes a shared marine management area near the disputed Senkaku Islands, enabling cooperation on fisheries regulations without addressing sovereignty claims. This collaboration enhances Taiwan's capacity to exercise state power and gain international recognition through resource management and law enforcement. ScienceDirect

• Taiwan's Financial Supervisory Commission warned of "new normal" market uncertainty under the Trump administration, citing rising geopolitical risks and potential scrutiny over Taiwan's significant trade surplus with the U.S. Taiwan's 2024 trade surplus with the U.S. surged 83%, driven by high-tech exports, making the U.S. its second-largest trading partner. Reuters

• US President-elect Donald Trump and Chinese President Xi Jinping discussed trade, TikTok, and Taiwan in a call marked by optimism but underlined by looming tensions. Trump pledged aggressive tariffs on imports, while Xi emphasized Taiwan's sovereignty and called for mutual respect to foster positive US-China relations. CNA

Taiwan in Numbers

• Taiwan's unemployment rate reached a 24-year low of 3.38% in 2024, supported by global investment in AI capacity, according to the Directorate-General of Budget, Accounting and Statistics. The job market remained stable, with significant improvements in first-time jobseekers landing positions and seasonal hiring increases ahead of the Lunar New Year. Taipei Times

• The TAIEX soared nearly 30% during the Year of the Dragon, driven primarily by Taiwan Semiconductor Manufacturing Co. (TSMC), whose market capitalization surged by NT$12.68 trillion. The index reached record highs, breaching 20,000 points for the first time, with foreign investment expected to continue bolstering confidence in Taiwan's semiconductor industry. Taipei Times

• Taiwan's export orders rose 5.1% year-on-year in 2024 to $589.54 billion, driven by strong demand for AI, high-performance computing, and semiconductor-related goods. Despite the growth, cautious manufacturer sentiment indicates a potential 4-8.1% decline in export orders for January 2025 due to global market uncertainties. Taipei Times

Our Latest Release

Tech Spotlights

• Taiwan's NTNU, in collaboration with Caltech, developed a 0.65 nm thin quantum memory material to improve quantum computing performance and scalability. The breakthrough, published in Advanced Materials, aligns with Taiwan's NT$8 billion investment in quantum technology and builds on its first domestically-built 5-qubit quantum computer. Taiwan News

• TSMC plans to produce chips for crypto mining firm Bitdeer at its Arizona fab, raising scrutiny due to Bitdeer’s ties to China's Bitmain and past controversies involving Huawei-linked entities. While TSMC emphasizes compliance with U.S. export rules, concerns persist about geopolitical risks as it navigates complex U.S.-China trade tensions. Culpium

• Nvidia CEO Jensen Huang clarified that demand for TSMC's advanced packaging remains strong but is shifting from CoWoS-S to CoWoS-L for its new Blackwell chips. While capacity constraints persist, Huang noted that advanced packaging capacity has quadrupled in the past two years, ensuring continued production growth. Reuters

• Taiwan launched the "Startup Island TAIWAN Silicon Valley hub" in Palo Alto to boost global visibility for Taiwanese tech startups. The hub focuses on semiconductors and AI, aiming to nurture over 100 startups, attract 2,000 talents back to Taiwan, and strengthen Taiwan-U.S. tech ties. Focus Taiwan

Politics

• Taiwan's Defense Ministry denied claims that NT$1.8 billion of the Indigenous Defense Submarine (IDS) Program budget was frozen, emphasizing the "Hai Kun" submarine prototype remains on schedule. The overall 2025 defense budget faces a 3% cut, with NT$170.1 billion allocated for essential military equipment and facilities. RTI

• Taiwan's intelligence agency reports a sharp rise in espionage cases, with China using gangs, shell companies, and coercion to gather military intelligence. Nearly half of the 64 alleged spies tried last year were current or retired military personnel, reflecting intensified Chinese "grey area" tactics. CNA

• Taiwan's Ministry of the Environment will invest NT$6.1 billion to develop four satellites for air pollution and greenhouse gas monitoring, with the first launch planned for 2029. Using satellite data, AI, and drone sampling, the initiative aims to track pollutants from China and Southeast Asia and analyze greenhouse gas emissions. Taiwan News

• Taiwan revoked a citizen's household registration and is investigating 12 others for possibly holding Chinese identity cards. Authorities warned that obtaining Chinese passports may result in losing Taiwanese citizenship. Taiwan News

Finance Focus

• The New Taiwan dollar is emerging as Asia's top carry-trade currency due to its stability and lower intervention risks compared to the yuan. Analysts highlight Taiwan's strong economic fundamentals and export-driven resilience, making it an attractive alternative amid Chinese currency volatility. Taipei Times

• Taiwan's Fair Trade Commission approved AMD's $4.9 billion acquisition of server maker ZT Systems, stating it would not restrict market competition. AMD aims to strengthen its AI hardware portfolio, with CEO Lisa Su emphasizing AI systems as a top strategic priority. Taiwan News

• An AmCham Taiwan survey shows 80% of businesses are confident in Taiwan's business climate, with 90% planning to maintain or increase investment. Key concerns include low salaries, road safety, and Taiwan Strait tensions, while strong support exists for a Taiwan-US double tax avoidance agreement to boost trade and economic ties. Taiwan News

Global Focus

• China has intensified its aggressive South China Sea tactics, targeting the Philippines with maritime occupations and "gray-zone" maneuvers. The incoming Trump administration faces pressure to counter these actions with bold initiatives, such as partnering with Manila on resource exploration and strengthening U.S.-Philippine defense cooperation. The Dispatch

• Chinese Ambassador Xiao Qian's claims misrepresent Taiwan's status and Australia's "One China policy," advancing Beijing's narrative while distorting international law and bilateral differences. Such rhetoric undermines informed discourse and stable relations. AFR

• Taiwan will enhance surveillance of ships with flags of convenience after a Chinese-linked vessel allegedly damaged an undersea cable, escalating concerns over "grey zone" tactics. The government plans stricter port inspections, coast guard interventions near cable zones, and increased intelligence sharing with the U.S. and Europe. Reuters

Taiwan in Numbers

• TSMC posted record quarterly profits and expects strong revenue growth in early 2025, driven by rising AI chip demand. CEO C.C. Wei expressed confidence in managing U.S. export controls on AI technology to China and emphasized ongoing discussions with the current and incoming U.S. administrations. Reuters

• Taiwan's economy is forecast to grow 3.22% in 2025, down from 2024's 4.3%, amid uncertainty over U.S. President-elect Donald Trump's policies. Growth will be fueled by AI demand, investments, and exports, despite potential risks from trade restrictions. Focus Taiwan

• Taiwan's 2024 tax revenue rose 7.9% to NT$3.73 trillion, surpassing the budget by NT$497.2 billion, driven by AI-driven stock activity, a strong housing market, and gains in personal and business taxes. Taipei Times

Our Latest Release

Morris Chang, the founder of Taiwan Semiconductor Manufacturing Company (TSMC), shares his insights and life story in the highly anticipated second volume of his autobiography. This latest release revisits Chang’s remarkable journey, from his early days at Texas Instruments to his pioneering work at TSMC, solidifying his role as a key figure in the semiconductor industry.

The second volume of Morris Chang’s autobiography covers the pivotal years from 1964 to 2018, revisiting his “golden years” at Texas Instruments and charting TSMC’s transformation into a global powerhouse. Written with sincerity and clarity, the book reflects Chang’s genuine intent to share his journey and insight. CNA

Vision That Shaped The Semiconductor Industry

The heart of Chang’s story lies in his bold vision for TSMC’s pure-play foundry model, a groundbreaking strategy focused on working closely with customers without competing against them. Despite doubts from industry experts and government officials, Chang’s unwavering belief in this approach paid off. It allowed TSMC to lead the foundry market and build strong, long-lasting partnerships with major players like Apple, Nvidia, and Qualcomm.

One of the book’s highlights is Chang’s revelation that he twice invited Nvidia CEO Jensen Huang to lead TSMC in 2013. Huang declined, choosing instead to focus on Nvidia, which grew from a $9 billion company at the time to a $3 trillion tech behemoth today. This anecdote not only underscores Chang’s eye for leadership but also emphasizes the pivotal role individual decisions play in shaping the tech landscape. Focus Taiwan

During the early days TSMC’s market valuation remained in the lead when compared to Nvidia. It is not until the year 2021 where Nvidia’s market valuation takes over TSMC since the early 2000s then growing exponentially during the year 2023 and 2024 due to the AI boom.

Morris Chang also reflects on his relationships with key industry players, including Intel co-founders Gordon Moore and Bob Noyce. While he describes a friendly rapport with them, his interactions with more recent Intel leadership were less amicable. Chang notes that Intel’s lack of a clear strategy contributed to its struggles in the semiconductor race. Semafor

Building TSMC

In his autobiography, Morris Chang shares the story of TSMC’s early days and the challenges it faced. In the 1980s, Taiwan’s semiconductor industry was far behind global leaders, struggling with outdated technology and limited resources. Chang’s solution was to create TSMC as a foundry that focused only on manufacturing chips for other companies. With funding from Taiwan’s government and Philips Electronics, this innovative approach filled a gap in the market and set TSMC on the path to success.

TSMC didn’t just rely on its unique business model, it also invested heavily in developing its own technology. Chang explains how, in just 12 years, the company advanced its chip-making processes nine generations ahead, surpassing its competitors. By focusing on its own research and development, TSMC stayed ahead of rivals like Intel, Samsung, and UMC, solidifying its position as a global leader. CommonWealth Magazine

TSMC falls under the Semiconductor Foundry market industry which means these companies manufacture chips for others (fabless companies, ex. Nvidia, AMD, Qualcomm). As of now TSMC is dominating the semiconductor foundry market having over 61.7% of the market share as of 2024. This further shows how Morris Chang’s leadership performs when being compared to other competitors in the same industry.

While the book highlights TSMC’s corporate achievements, Chang also opens up about his personal philosophy and leadership style. He stresses the value of humility, continuous learning, and supporting employees with incentives like bonuses and stock options. His honest reflections on early career missteps and the sacrifices he made along the way add a personal and relatable touch to the memoir. CommonWealth Magazine

Morris Chang’s Legacy

Morris Chang’s reflections in his latest autobiography shows the growing global importance of semiconductors and the challenges TSMC faces in staying ahead in an ever-changing world. More than just a personal history, Chang’s autobiography is a tribute to the power of vision and resilience. His pioneering of the dedicated foundry model not only propelled TSMC to the forefront of the semiconductor industry but also cemented Taiwan’s position as a global technology hub.

At 93, Chang’s wisdom is as relevant as ever. His story offers timeless lessons for leaders, entrepreneurs, and policymakers alike, reminding us that lasting success is built on collaboration, perseverance, and a relentless pursuit of excellence. The latest installment of Morris Chang’s autobiography is a good start for anyone seeking for insights into the semiconductor industry’s evolution and also the principles that define a great leader.

Tech Spotlight

• TSMC begins 4-nanometer chip production in Arizona, marking a U.S. first. Backed by a $6.6B Commerce grant, TSMC plans $65B investment by 2030, adding a third fab and 2-nanometer chip production by 2028, supporting U.S. semiconductor goals. Reuters

• Nvidia unveiled AI-powered Cosmos models for cost-effective robot and car training, RTX 50 gaming chips for enhanced realism, and a $3,000 desktop for AI developers at CES 2025. It also announced a Toyota partnership and projected $5B automotive revenue by 2026, with its valuation reaching $3.66T. CNA

• MediaTek partnered with Nvidia to develop the AI supercomputer Project Digits, unveiled at CES 2025. Powered by Nvidia’s GB10 Grace Blackwell superchip, it enables scalable AI model fine-tuning and will launch in May for $3,000. Taiwan News

Politics

• Taiwan’s Constitutional Crisis Threatens Its Democracy as opposition-led reforms paralyze the Constitutional Court by imposing stricter quorum rules. With only eight active justices, the court cannot function, undermining checks and balances and threatening democratic governance. The Diplomat

• Taiwan's opposition lawmakers back an "unconstitutional" Bill raising thresholds for the Constitutional Court, which critics warn could paralyze the court and restrict justice access. Despite protests and warnings from President Lai's cabinet, the Bill passed, intensifying Taiwan's constitutional crisis. CNA

• The CDC reported three new measles cases in a central Taiwan hospital cluster, bringing the total to 19. The outbreak remains confined to hospital contacts, with no signs of wider spread, as most patients were vaccinated, reducing transmission risk. Focus Taiwan

• Seven retired Taiwanese military officers, led by Chu Hung-i, were charged with spying for China, violating the National Security and Anti-Infiltration Acts. They allegedly received funds from PLA intelligence to recruit personnel, gather military information, and establish a pro-China political party. Taiwan News

Finance Focus

• Foxconn halts deploying Chinese workers to its Indian iPhone factories and faces delays in equipment shipments from China, potentially disrupting production. The move highlights geopolitical tensions as Apple diversifies away from China, shifting manufacturing to India under its "Make in India" initiative. Rest of World

• TSMC reported Q4 2024 revenue of T$868.42 billion ($26.36 billion), beating market forecasts by 34.4% year-on-year, driven by strong AI demand. December revenue surged 57.8%, positioning TSMC as a key beneficiary of the AI boom alongside other Taiwan tech firms like Foxconn. Reuters

• Vanguard International Chair Fang Leuh predicts moderate chip industry growth in 2025 despite global uncertainties, including U.S.-China trade tensions. Fang highlighted VIS's $7.8 billion Singapore fab with NXP, set for 2027 production, and noted global chip sales grew 20.7% year-on-year in November. Taiwan News

Global Focus

• Taiwan, known as "Silicon Island," is vital to U.S. economic security due to its dominance in global semiconductor supply chains and advanced technology production. Supporting Taiwan’s capabilities, integrating its expertise into the U.S. tech ecosystem, and fostering its global investments are essential for mitigating vulnerabilities and ensuring shared growth. CSIS

• Taiwan must secure its undersea cables, critical for its tech industry and global connectivity, amid rising Chinese aggression and gray-zone tactics. Upgrading cables to "critical infrastructure" and investing in repair ships are essential steps to safeguard its economy and maintain leadership in global tech. The Diplomat

• Taiwan expects minimal impact on its chip exports from Trump’s proposed tariffs due to its technological edge, Economy Minister Kuo Jyh-huei said. Taiwan plans to assist firms in relocating supply chains to the U.S. and expand cooperation with Japan on AI and drones. Reuters

Taiwan in Numbers

• Taiwan's December exports rose 9.2% year-on-year to $43.59 billion, driven by strong AI semiconductor demand and U.S. orders, exceeding the forecasted 6.5% growth. The finance ministry predicts stable growth in Q1 despite geopolitical uncertainties and the Lunar New Year holiday's potential impact. Reuters

• Taiwan's CPI rose 2.1% in December, driven by a 4.05% increase in food prices due to heavy rainfall, with dining and rent costs also climbing. The DGBAS expects inflation to ease as food prices stabilize, though core CPI grew 1.65%, signaling persistent pressure in key sectors like health and shelter. Taipei Times

• Taiwan's land deals surged 116% to NT$277.6 billion in 2024, driven by developers building land stock amid a housing boom, with Taichung leading at NT$58.3 billion. CBRE predicts a slowdown in 2025 as the central bank tightens real estate lending. Taipei TImes

Our Latest Release

Quantum computing is rapidly transforming the field of cryptography, challenging long-standing assumptions about data security. While traditional cryptographic techniques rely on the difficulty of solving complex mathematical problems, the power of quantum computing threatens to render these methods obsolete.

With the recent introduction of Google’s quantum chip Willow, crypto enthusiasts are raising concerns about the future of cryptography due to emerging threats. However, this disruptive technology also presents opportunities to rethink and enhance cryptographic systems, with innovations like zero-knowledge proofs (ZKPs) paving the way.

How is Quantum Computing a Threat to Cryptography?

Cryptography is the practice of keeping data and communications secure, often using techniques like encryption. Current systems, like RSA and ECC, rely on solving very complex math problems that regular computers can't handle. However, quantum computers can solve these problems much faster with special algorithms like Shor’s, which could make today’s encryption methods unsafe.

The potential threat of quantum computers breaking current encryption has pushed researchers to create new security methods called post-quantum cryptography (PQC). These methods use special algorithms designed to resist quantum attacks. As part of this effort, NIST has identified promising options, like CRYSTALS-Kyber and CRYSTALS-Dilithium, to set new security standards.

The global quantum computing market has witnessed significant growth, as reflected in projections from 2020 to 2030, with a compound annual growth rate (CAGR) of 18.8%. In 2020, the market was valued at $810.5 million, marking the early stages of quantum computing commercialization.

By 2022, it had surpassed $1 billion, reaching $1,050.4 million, driven by increased interest in quantum technologies for research and industrial applications. The market is expected to continue its rapid expansion, reaching $4 billion by 2030

Zero Knowledge Proof Approach

Zero-knowledge proofs (ZKPs) are tools that let someone prove something is true without sharing any details. Developers and builders have already used this in technologies like blockchain and secure logins to protect privacy.

In a future with quantum computers, ZKPs become even more important. By using algorithms that can resist quantum attacks, they help keep data safe. New developments like zk-SNARKs make ZKPs faster and easier to use, making them a key way to protect sensitive information from both current and future threats.

Historical Progress of Quantum Computing and Zero-Knowledge Proof

Quantum computing has evolved from a theoretical concept to a rapidly advancing technology with significant milestones and of recent times it is signaling rapid growth:

1. 1980s: Richard Feynman and David Deutsch introduced the theoretical framework for quantum computing.

2. 1994: Peter Shor’s algorithm demonstrated the potential of quantum computers to solve problems like integer factorization.

3. 2000s: Prototype quantum processors emerged.

4. 2020s: Big tech companies achieved milestones in quantum computing, demonstrating tasks that classical computers could not replicate.

Quantum computing has advanced significantly over the years, with companies like IBM, Google, and D-Wave Systems leading the way. Their work has focused on increasing qubit counts and developing systems capable of solving complex problems previously out of reach.

IBM has been a major player in quantum computing since introducing its 5-qubit "IBM Q 5 Tenerife" chip in 2016. By 2019, it had introduced the 53-qubit "IBM Q System One," the first integrated quantum computing system. Recent developments include the "Eagle" processor with 127 qubits (2021), the 433-qubit "Osprey" (2022), and the 1,121-qubit "Condor" (2023), reflecting IBM’s steady progress in scaling quantum systems.

Google made headlines in 2019 when its 53-qubit "Sycamore" processor achieved quantum supremacy, performing a calculation in seconds that would take classical computers millennia. Earlier, in 2018, it introduced the 72-qubit "Bristlecone." Its latest innovation, the 105-qubit "Willow," unveiled in 2024, signals ongoing advancements in scalability and performance.

D-Wave has focused on quantum annealing, launching the 128-qubit "D-Wave One" in 2011 and steadily increasing qubit counts. By 2020, it introduced the 5,000-qubit "Advantage" system, and in 2024, the 7,000-qubit "Advantage2," cementing its role in optimization-focused quantum computing.

Zero-Knowledge Proofs (ZKPs) have evolved from a theoretical concept to a vital tool in cryptography and blockchain. Initially introduced in 1985, they have grown to power privacy-focused cryptocurrencies and scalable blockchain solutions, becoming integral to modern decentralized systems. Here's a timeline of key milestones.

1. 1985: Shafi Goldwasser, Silvio Micali, and Charles Rackoff introduced the concept of ZKPs in their groundbreaking research.

2. 2000s: Applications expanded into blockchain, with zk-SNARKs offering compact and efficient implementations.

3. 2010s: Zcash integrated ZKPs for cryptocurrency privacy

4. 2020s: ZKPs have advanced further in scalability and speed, becoming a key aspect to decentralized finance and privacy solutions.

In recent days Zero-Knowledge proofs cryptography are widely used in cryptography with many new projects utilizing it to build their blockchain in an attempt to provide a high performing network while maintaining cutthroat privacy (ex. ZKsync, StarkNet, etc).

While zero-knowledge proofs offer advantages over traditional cryptography, such as enhanced privacy and security, they also have drawbacks, including higher computational costs, complexity of implementation, and scalability challenges.

Final Remarks

Quantum computing is reshaping the future of cryptography, presenting both challenges and opportunities. While the threat to traditional cryptographic methods is real, innovations like Zero-Knowledge Proofs and Post-Quantum Cryptography are paving the way for stronger, quantum-resistant solutions.

Tech Spotlight

• Taiwan’s science ministry warns of T$20 billion funding cuts for semiconductors, AI, and aerospace in 2024, driven by opposition-led laws redirecting budgets to local governments. Economic ministry projects T$29.7 billion cuts, including T$11.6 billion from tech projects, risking partnerships with firms like Micron, AMD, and Nvidia. Reuters

• FIH debuts at CES 2025, showcasing automotive electronics solutions, including 4G/5G TCUs, IVI systems, HPC, and ADAS technologies. Highlights include eCall-equipped TCUs, a 44.8-inch IVI display, and AI-driven ADAS for safer driving. Foxconn

• Taiwan approved the "Southern Silicon Valley Plan" to integrate tech hubs in southern Taiwan, boosting AI development and competitiveness through industry-academia collaboration and digital transformation. Taiwan News

Politics

• Former Taipei Mayor Ko Wen-je was charged with bribery and misuse of political donations, accused of taking T$17.1M in bribes over a property development and embezzling T$68M in campaign funds. Prosecutors seek over 28 years in prison, citing illegal benefits for conglomerates. CNA

• Taiwan's carbon fee program began Jan. 1, 2025, charging NT$300/ton for large emitters, with fees starting in 2026. Critics call the rate low, but it aims to drive innovation and align with EU CBAM standards. Revenue supports net-zero goals, with rates rising post-2030. American Chamber of Commerce in Taiwan

• President Lai Ching-te seeks reconciliation with Legislative Speaker Han Kuo-yu, inviting him for talks ahead of a bipartisan delegation visit to the U.S. Lai aims to address legislative challenges and foster cooperation amid tensions after opposition rejection of presidential judicial nominees. Taiwan News

Finance Focus

• Taiwan launches six-month digital nomad visas starting Jan. 1, 2025, to address workforce shortages tied to declining birth rates. Part of a goal to attract 400,000 foreign workers by 2032. South China Morning Post

• Taiwan’s Russian coal imports surged 31% in 2023, totaling $3.5B, despite Taipower halting purchases in 2022. Russian oil imports also rose 200%, contributing $600M to Kremlin revenues. Advocacy groups urge a halt to Russian fossil fuel imports. CREA

• Hon Hai invests NT$11.3B in the U.S., boosting its AI server production capacity through eight subsidiaries, including Cloud Network Technology USA. Recent US$33M land acquisition in Houston aligns with its focus on AI and EV development under its "3+3" strategy. Focus Taiwan

Global Focus

• Taiwan President Lai Ching-te calls for dignified exchanges with China, questioning its goodwill due to travel restrictions. He urges democracies to unite against authoritarian threats, citing China's military actions and ties with Russia, while emphasizing defense and democratic supply chains for global peace. Reuters

• Taiwan reports China's first New Year "combat patrol" near the island, involving 22 aircraft and warships. Taiwan's defense forces monitored the activity, calling it intimidation. This follows President Lai’s renewed call for talks with Beijing, which continues military pressure and dismisses his outreach as separatism. Reuters

• Cross-strait tourism remains stalled after years of political tension and the pandemic. Positive talks in Shanghai hint at potential city-to-city travel resumption, a step seen as economically beneficial and trust-building. However, analysts warn political challenges may hinder long-term progress as China's reunification pushes clashes with Taiwan's resistance. CNA

• Kaohsiung joins the Unbroken Cities Network, supporting war-affected Ukrainian cities. Mayor Chen signed an agreement with Lviv’s Mayor Sadovyy to aid medical and reconstruction efforts, including Taiwan's funding of Lviv’s Unbroken Medical Campus. Taiwan News

Taiwan in Numbers

• Taiwan's 2024 car sales fell 4% to 457,830 units, normalizing after a boom. Hotai Motor led with a 33.5% market share despite a slight decline. Tesla (+16.1%), BMW (+14.7%), and Hyundai (+2.3%) saw growth, while Audi (-20.1%) and Volvo (-2.4%) declined. January 2025 sales are forecast to drop 6.3% ahead of Lunar New Year. Taipei Times

• Taiwan's PMI slowed to 50.8 in December, signaling weaker manufacturing expansion amid uncertain demand. Non-manufacturing PMI rose to 56.5, driven by strong commercial property activity despite residential market challenges. Focus Taiwan

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Tech Spotlight

• Taiwan’s NCSIST unveiled an AI-powered intelligence center designed to enhance UAV battlefield deployments. The system analyzes and stores drone footage for real-time situational awareness, supporting integration with U.S.-purchased MQ-9B drones. A modular UAV simulator was also showcased to train drone pilots under varied mission conditions. Taiwan News

• Research team from NTU and NTHU developed a high-speed 4D microscope using AI to enhance brain imaging and neural activity observation. Scanning thousands of times faster than traditional microscopes, it enables real-time neuroimaging. The breakthrough aids understanding brain diseases and advancing energy-efficient AI computation. Taiwan News

• The Cabinet hosted the 2024 Presidential Hackathon awards, with President Lai Ching-te emphasizing digital innovation for addressing social issues. Domestic winners developed platforms for elderly care and drone systems for medicine delivery, while international winners created a carbon wallet for sustainable habits and an app for livestock health monitoring. Taiwan News

Politics

• Taiwan will fully implement its online passport renewal service starting Jan. 1, following a successful trial. Applicants can renew passports online with a 10-day processing time, removing the need for in-person visits. The service is expected to benefit 200,000 to 300,000 applicants annually. Focus Taiwan

• Taipower announced it will recruit 1,084 employees in 2024, raising the base salary to NT$36,000 and up to NT$39,000 for licensed technicians. Key roles include distribution line maintenance (489 positions) and transmission line maintenance (123 positions). Training will focus on strengthening frontline power systems, with exams scheduled in July and August. Taiwan News

• A NT$25 billion funding shortfall from amendments to the Act Governing the Allocation of Government Revenues and Expenditures could severely impact the Ministry of Agriculture's operations. Key areas at risk include swine disease prevention, farmer subsidies, and disaster monitoring systems. Taiwan News

Finance Focus

• Taiwan’s 2024 economic growth rate is forecast at 3.1% by Academia Sinica’s Institute of Economics, driven by demand for high-performance computing and AI. While private consumption stabilizes post-COVID, uncertainties such as international politics and stock market volatility could impact growth. The institute emphasizes opportunities in hardware and AI applications. Taiwan News

• TSMC’s investment in Kaohsiung is accelerating urban development and transforming the city into a semiconductor hub, Mayor Chen Chi-mai said. With five planned factories, enhanced infrastructure, and strong transport links, the initiative supports industry integration across southern Taiwan and boosts high-end chip production. Taipei Times

• Taiwan Railway Corp. projects a NT$12 billion loss in 2024, citing transition costs and frozen fares. It aims for operational profitability by 2026 and is enhancing safety with a five-year improvement plan. Focus Taiwan

Global Focus

• Taiwan aims to mass produce military drones for the West, targeting 15,000 units per month by 2028. Leveraging its semiconductor dominance, Taiwan seeks to reduce Western reliance on Chinese supply chains amid US-China trade tensions. Taiwan News

• The U.S. approved a US$295 million arms sale to Taiwan, including upgraded tactical data link systems and gun mounts for ships. Additionally, a US$571.3 million military aid package was announced, marking the third aid package under the Presidential Drawdown Authority this year, reinforcing Taiwan's self-defense capabilities. Focus Taiwan

• Taiwan’s NIA reported 124 cases of forged documents by Chinese nationals seeking entry since easing restrictions in September 2023. Enhanced screening measures have been implemented, with offenders facing up to a five-year entry ban. Of 134,000 applications this year, 98,000 visitors have entered Taiwan. Focus Taiwan

Taiwan in Numbers

• Retail sales reached a record NT$438.1 billion in November, up 1.8% year-on-year, driven by sales events and baseball promotions. Food and beverage sales rose 7.2% to NT$85.4 billion, with both sectors achieving record highs for the first 11 months. Taipei Times

• Taiwan's industrial production grew 10.29% in November, driven by strong AI and semiconductor demand, while traditional sectors like chemicals and autos saw declines. Focus Taiwan

• Taiwan's unemployment rate dropped to 3.36% in November, the second-lowest in 24 years, with further declines expected ahead of Lunar New Year shopping. Taipei Times

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Tech Spotlight

• Taiwan's registered drones surpass 38,000 as of Nov. 30, with 90% used for aerial photography. New policies focus on inspections, flight safety, and lowering the operator age to 14 under supervision. Authorities aim to address drone airspace, no-fly zones, and pesticide spraying coordination. Taiwan News

• Taiwan considers partnering with Amazon's Project Kuiper to boost emergency communications, testing 773 hotspots under its satellite program. Collaboration with Starlink is also possible, pending security and U.S. approval. Focus Taiwan

• Taiwan unveils "Chip Team Taiwan" initiative to boost domestic drone production by integrating advanced IC design and chip manufacturing. The plan aims to develop local markets for drones, robotics, and satellites while reducing reliance on Chinese suppliers. Focus Taiwan

Politics

• Taiwan adds 30 new services to National Health Insurance, including advanced genetic cancer screenings, accurate prostate cancer tests, and improved hepatitis B diagnostics, benefiting over 66,000 patients annually with a NT$110 million investment. Taipei Times

• Taiwan boosts 2024 science and technology budget to NT$196.5 billion, focusing on AI, regional development, and talent cultivation. Plans include the Taoyuan-Hsinchu-Miaoli Silicon Valley and strengthening SMEs in the vertical supply chain. Taiwan News

• Taoyuan advances MRT projects with the Brown Line approved, Green Line extensions and Airport MRT expansion starting next year, and underground rail projects underway. The Green Line’s north section aims to open by 2030. Taipei Times

Finance Focus

• Taiwan's mortgage rates hit 2.23%, a 15-year high, as lenders tighten credit controls. Applications fell 6.5%, with higher borrowing costs and longer approvals. Developers plan fewer presales and price cuts outside Taipei, where prices may drop 5-10%. Taipei Times

• Foxconn is negotiating to acquire Renault’s 35% stake in Nissan after a direct bid was rejected. Nissan is fast-tracking merger talks with Honda to block the deal, with a board decision set for Dec 23. Focus Taiwan

• Taiwan’s central bank keeps rates at 2%, the highest in 15 years, citing high local service costs and global uncertainties. It will monitor the effects of September’s housing credit controls. Focus Taiwan

Global Focus

• The US Senate approves NT$10 billion for Taiwan’s military under the "Taiwan Security Cooperation Initiative," including training, equipment, and participation in the 2025 Rim of the Pacific exercise. Taiwan News

• Taiwan’s National Institute of Cyber Security joins the Global Forum on Cyber Expertise, enhancing global collaboration with 130 members to address complex cybersecurity challenges. Taiwan News

• Taiwan pledges €250,000 for Mayotte’s Cyclone Chido relief, offers further aid, and reports no Taiwanese casualties. The disaster may have killed up to 1,000. Focus Taiwan

Taiwan in Numbers

• Taiwan lowers gasoline and diesel prices by NT$0.1 per liter for the second week, despite a global crude oil rise due to OPEC+ output delays and EU sanctions on Russian oil. Gasoline prices range from NT$28.5 to NT$32, and premium diesel costs NT$27-27.2 per liter. Taipei Times

• Taiwan’s furloughed workers fell to 4,474, the lowest in four months, as manufacturing and tourism recovered. Hualien’s furloughed workers dropped to 617, with demand expected to rise during Lunar New Year. Focus Taiwan

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對於許多希望在國外工作的求職者來說，台灣提供了豐富的文化、多姿多彩的自然美景以及獨特的職業機會。我們採訪了澳大利亞籍英語教師 Adrian Moore，他分享了在台灣生活和教學的經歷、來台原因、學到的心得，以及如何適應這座迷人的島嶼生活。

為什麼選擇台灣？

Adrian 的旅程始於對語言與文化的深厚熱愛，以及想要全心投入學習中文的渴望。台灣這個地方脫穎而出，成為他的理想目的地，不僅能學習語言，還擁有獨特的山海景觀、政治與文化魅力。他在疫情前的一次訪台經歷留下了深刻印象，讓他決心要回到這片土地。

「我想在一個可以完全沉浸於中文環境的地方學習。台灣不僅適合學習語言，還擁有美麗的山海景色、政治和文化交融。」

然而，隨著新冠疫情的爆發，移居到台變得更加複雜。唯一能在疫情期間留在台灣的方法就是擁有一份就業合同，而教英語便成為最容易實現的選擇。

「疫情期間，唯一能留在台灣的方法就是擁有就業合同，因此教英語是最簡單的選擇。」

意想不到的文化差異

在台灣生活，讓 Adrian 深刻體會到一些意料之外的文化差異。他很快注意到台灣文化與西方個人主義的鮮明對比。在台灣，人們往往傾向於避免突出自己，這種心態與西方的常態恰恰相反。這種文化差異深刻影響了他與學生及同事的互動方式，並讓他對台灣人處理生活與人際關係的方式產生了新的敬意。

「台灣的文化與西方的個人主義真的很不一樣。」

對 Adrian 而言，教導台灣學生既充滿挑戰又收穫滿滿。在西方教育中，創意和獨立思考往往受到鼓勵，但他發現許多台灣學生在開放性思維和創意表達方面有困難。這使他的教學工作更有意義，他努力鼓勵學生嘗試小規模的創意冒險，探索新的表達方式，從而培養他們的自信與好奇心。

「在西方教育中，學生通常被推動去創造和獨立思考，但在這裡，孩子們對於開放性思維和創造力往往感到掙扎。」

克服語言障礙

對 Adrian 而言，適應台灣的日常生活並非毫無挑戰。在台北以外地區，英文服務的有限性讓他在銀行業務或處理政府事務等日常任務中面臨更多困難。瀏覽政府網站、獲取醫療服務或找到正確的幫助，在缺乏流利中文的情況下尤為困難。儘管如此，他發現耐心與學習意願是克服這些障礙和適應台灣生活的關鍵。

「瀏覽政府網站、獲取醫療服務，甚至找到適當的幫助，沒有流利中文真的是一大挑戰。」

對於考慮來台灣教書的人，Adrian 提供了一些實用建議。儘管政府已經讓外籍人士來台更為容易，但他強調經驗可能因學校而異。他鼓勵新手不要因第一份工作不適合而氣餒，並提醒他們要保持堅持，直到找到合適的機會。

台灣教育產業現況

台灣的學生人數從2013年的4,859,558人下降到2023年的4,042,175人，過去十年的歷史數據顯示學生人數呈穩定下降趨勢，這也與全國普遍存在的出生率下降相一致。

近年來，台灣的出生率急劇下降，2023年的新生兒人數降至約135,570人，創歷史新低。過去五年這一趨勢持續穩定下降。

隨著學生人數減少，學校不得不在人口較少的地區關閉或合併，以維持效率。這引發了教師對於可能出現過剩的擔憂。

過去十年，台灣的教師人數經歷了顯著的波動，反映了教育領域的變化。從2014年到2017年，教師人數急劇下降，從約303,113人減少到293,554人。這一下降與學生人數減少密切相關，而學生人數的減少則受到台灣持續低出生率和學校入學人數下降的影響，導致教師需求減少。

然而，自2017年起，這一趨勢開始逆轉，教師人數穩步增加。到2023年，教師總數回升至303,963人以上，顯示出顯著的復甦。這一增長可歸因於台灣的教育改革及提升教學品質的努力，例如縮減班級規模，並更注重 STEM 和英語等專業學科。此外，台灣對英語能力的重視也促使外籍教師需求增加，以幫助學生提高全球競爭力。

教師人數的回升顯示出一項策略性舉措，即在學生人口減少的情況下仍能維持高品質的教育。雖然城市地區受益於更好的資源和人員配置，但偏遠地區的學校在留住教師方面仍面臨挑戰。

台灣各地學校的分布顯示出顯著的區域差異，例如新北市和台北市等城市中心共擁有多達2,500所學校，而偏遠地區，特別是東部和中部地區，學校數量僅約200至300所。這種差異突顯出人口較少地區所面臨的挑戰，因為學生人數較少導致教育設施的數量不足。

這幅地圖反映了城鄉之間的差距，顯示城市地區在學校和教育資源方面相對完善，而農村社區可能在教育機會的可及性和公平分配上面臨困難。解決這些不平衡需要針對性的政策、基礎設施投資以及支持資源不足地區教育的策略，確保所有學生無論地區差異，都能獲得高品質的教育。

台灣英語教學產業的未來

展望未來，Adrian 認為英語教學是一個將持續發展的行業。由於其入門門檻相對較低，該行業一直保持穩定，而他相信台灣對英語能力的重視在短期內不會減弱。這一點也得到了政府努力提升全國英語能力以增強全球競爭力的支持。

儘管出生率下降及入學學生減少，但教育系統的政府改革維持了對教師的需求，顯示出積極且健康的趨勢。台灣政府已將英語作為長期教育戰略的一部分，通過「2030雙語國家政策」等計畫，目標是將台灣轉型為一個雙語國家。這確保了英語教學在未來數年內仍然具有重要性並持續需求。

英語教學產業也可能隨著學校整合先進的學習方法和數位工具來提升語言教育而不斷演變。這個行業將繼續成為外國人來台工作的重要入門途徑，不僅提供專業發展的機會，還讓他們有機會體驗文化交流與個人成長。

對 Adrian 而言，在台灣教英語遠不僅僅是一份工作，更是一段文化探索、個人成長和職業挑戰的旅程。

For many people looking to work abroad, Taiwan offers a mix of vibrant culture, stunning natural beauty, and unique professional opportunities. We have interviewed Adrian Moore, an Australian English teacher, who shares what it’s like to live and teach in Taiwan, why he came, what he’s learned, and how he’s adjusted to life on this fascinating island.

Why Taiwan?

Adrian's journey began with a deep love for language and culture and a desire to fully immerse himself in learning Chinese. Taiwan stood out as the ideal destination, offering not just the opportunity to study the language but also its unique blend of mountains, sea, politics, and culture. A visit before the pandemic left a lasting impression, solidifying his desire to return.

"I wanted to learn Chinese in a place where I could fully immerse myself in it. Taiwan seemed perfect not only for the language but also for its beautiful mix of mountain and sea, politics, and culture."

However, when COVID-19 struck, relocating became far more complicated. The only way to remain in Taiwan during the pandemic was through an employment contract, and teaching English emerged as the most accessible option.

“The only way to stay on the island during the pandemic was with an employment contract, so teaching English was the easiest choice.”

Unexpected Cultural Differences

Living in Taiwan brought some unexpected cultural insights for Adrian. He quickly noticed how Taiwanese culture contrasts sharply with the individualism of the West. People in Taiwan often prefer to avoid standing out, a mindset that is quite the opposite of Western norms. This cultural difference has significantly influenced how Adrian interacts with both his students and colleagues, fostering a newfound appreciation for the Taiwanese way of approaching life and relationships.

"Taiwanese culture is really different from the individualism of the West.”

Teaching Taiwanese students has been both rewarding and challenging for Adrian. In Western education, creativity and independent thinking are often encouraged, but he noticed that many Taiwanese students struggle with open-ended thinking and creative expression. This challenge has made his teaching role even more meaningful, as he works to inspire his students to take small creative risks and find new ways to express themselves, fostering their confidence and curiosity along the way.

“In Western education, students are often pushed to be creative and think independently but here, kids can struggle with open-ended thinking and creativity.”

Navigating the Language Barrier

Adjusting to day-to-day life in Taiwan hasn’t been without its challenges for Adrian. Outside of Taipei, the limited availability of English services makes routine tasks like banking or dealing with government offices more difficult. Navigating government websites, accessing healthcare, or simply finding the right assistance can be particularly challenging without fluent Mandarin. Despite these obstacles, Adrian has found that patience and a willingness to learn are essential in overcoming these hurdles and adapting to life in Taiwan.

“Browsing government websites, getting health care, or even finding the right help can be a real challenge without fluent Mandarin.”

For anyone considering a move to teach in Taiwan, Adrian offers practical advice. While the government has made it easier for foreigners to come to the island, he emphasizes that experiences can vary widely depending on the school. He encourages newcomers not to get discouraged if their first job isn’t the right fit, reminding them to stay persistent and keep searching until they find the right opportunity.

Education Industry in Taiwan

The amount of students in Taiwan has dropped from 4,859,558 in 2013 to just over 4,042,175 in 2023, historical data from the past 10 years signals a steady decrease of students being present at schools which is also backed with the declining birth rate that’s prevalent across the country.

Taiwan has seen a sharp decline in birth rates in recent years, with the number of births falling to a record low of approximately 135,570 in 2023. This downward trend has persisted steadily over the past five years.

In response to the decrease of students, schools are forced to be closed down to be merged with other schools in less populated areas to maintain efficiency. This concerns teachers where there could be a scenario of teacher surplus.

Over the past decade, the number of teachers in Taiwan has experienced significant fluctuations, reflecting shifts within the education sector. From 2014 to 2017, the number of teachers dropped sharply, falling from approximately 303,113 to 293,554. This decline correlates with the decrease in the student population, driven by Taiwan’s persistently low birth rates and declining school enrollments, which reduced the immediate demand for teachers.

However, starting in 2017, the trend began to reverse, and the number of teachers steadily increased. By 2023, the count had returned to over 303,963, marking a remarkable recovery. This growth can be attributed to Taiwan’s educational reforms and efforts to enhance teaching quality, such as reducing class sizes and placing a greater focus on specialized subjects like STEM and English. Additionally, Taiwan's emphasis on English proficiency has led to a growing demand for foreign teachers to help prepare students for global competitiveness.

The rebound in teacher numbers highlights a strategic move to maintain high-quality education despite a shrinking student population. While urban areas benefit from better resources and staffing, rural schools still face challenges in retaining educators.

The distribution of schools across Taiwan reveals significant regional disparities with some urban centers such as New Taipei and Taipei hosting up to 2,500 schools combined, while more rural regions particularly in eastern and central Taiwan host around 200-300 schools. This disparity highlights the challenges faced by less populated regions where lower student numbers result in fewer educational facilities.

This map represents the urban-rural divide indicating that urban areas are well-served with schools and educational resources, rural communities may struggle with accessibility and equitable distribution of education opportunities. Addressing these imbalances will require targeted policies, investment in infrastructure, and strategies to support education in under-resourced regions, ensuring that all students, regardless of location, have access to quality education.

Future of English Teaching Industry In Taiwan

Looking ahead, Adrian sees English teaching as an industry that is here to stay. Its accessibility has kept the industry stable, and Adrian believes Taiwan’s focus on English proficiency will not fade anytime soon. This is further supported by the government’s efforts to improve English-speaking skills across the country to enhance global competitiveness.

Despite declining birth rates and fewer students entering schools, government reforms in the education system have sustained the demand for teachers, indicating a positive and healthy trend. Taiwan's government has prioritized English as part of its long-term education strategy, with initiatives like the Bilingual 2030 Policy, aimed at transforming the country into a bilingual nation. This ensures that English teaching will remain relevant and in demand for years to come.

The English teaching industry is also likely to evolve as schools integrate advanced learning methods and digital tools to enhance language education. This sector will continue to serve as an important entry point for foreigners looking to work in Taiwan, offering not only professional opportunities but also the chance to experience cultural exchange and personal growth.

For Adrian, teaching English in Taiwan has been much more than just a job. It has been a journey of cultural discovery, personal growth, and professional challenge.

Tech Spotlight

• Taiwan developer Gametropy's app, "Do You Really Want to Know 2," won an Apple App Store Award for addressing HIV stigma and providing educational resources. Apple praised the app for its user experience and innovation among 45 finalists. Taiwan News

• China is investigating Nvidia for potential antitrust violations related to its 2019 acquisition of Mellanox Technologies. This probe follows U.S. export restrictions on China's semiconductor industry, reflecting escalating tensions between the U.S. and China in the chip sector. Taiwan News

• Google's new quantum chip, Willow, is seen as a potential threat to Bitcoin and Nvidia by enabling faster computations that could compromise current encryption methods. Experts suggest increased investment in quantum technology to address security concerns in various industries, including companies like BTQ, which focuses on protecting sensitive data. Yahoo! Finance

Politics

• Taiwan has placed its military on high alert as Chinese coast guard vessels are spotted near its waters. Beijing has reserved airspace, raising concerns of a potential military exercise following Taiwanese President William Lai's recent visits to Pacific allies. Taipei Times

• Taiwan's Ministry of National Defense tracked 34 Chinese military aircraft and 16 ships within a 24-hour period. This month, Taiwan has monitored Chinese military movements 237 times for aircraft and 145 times for ships, amid heightened military exercises. Taiwan News

• The US House has passed a defense bill providing NT$9.7 billion in military aid to Taiwan, establishing the Taiwan Security Cooperation Initiative. This funding will enhance Taiwan's military capabilities and includes provisions for trauma care and international sanctions coordination against China. Taiwan News

Finance Focus

• Taiwan's listed and OTC companies saw a record net increase of NT$919.2 billion (US$28.22 billion) in overseas investments during the first nine months of 2024, driven by capital needs in the semiconductor sector, despite reduced investments in China. Focus Taiwan

• Tesla's stock reached an all-time high, rising 69% since Donald Trump's election victory. The increase is attributed to strong sales in China and optimism about regulatory approvals for Tesla's full self-driving features under the new administration. Yahoo! Finance

• Taiwan's GDP is expected to grow steadily next year, driven by strong global demand for AI-related electronics. Predictions range from 2.8% to 3.16% growth, despite concerns over potential US tariffs and geopolitical tensions impacting the economy. Taipei Times

Global Focus

• China has implemented a ban on selling certain dual-use goods to the U.S., extending its legal jurisdiction to include companies outside China. This move aims to counter U.S. sanctions and applies to materials like gallium and germanium. Taiwan Times

• President-elect Donald Trump plans over 25 executive orders for his first day in office on January 20, 2025, aiming to reshape U.S. policies on immigration and energy, including actions to enhance border security and increase energy production. Taiwan News

• South Korean President Yoon Suk Yeol faces impeachment calls from his own party amid backlash over a failed martial law declaration. His party leader suggested voting for impeachment, while Yoon vowed to fight against the charges and maintain his presidency. Taiwan News

Taiwan in Numbers

• Taiwan's stock market opened higher, gaining 147.01 points to reach 23,050.64 on Thursday. Trading volume was NT$5 billion (US$155.48 million), reflecting positive investor sentiment as the market resumes activity. Focus Taiwan

• Taiwan Semiconductor Manufacturing Company (TSMC) is projected to grow its revenue by 25% next year, reaching a record high, driven by strong demand in AI and crypto mining. TSMC's market share in the foundry sector is expected to rise to 67%. Taipei Times

• Taiwan's average monthly wage rose by 2.63% to NT$46,455 in October, while total wages, including bonuses, increased by 3.41% to NT$53,227. This growth was supported by strong demand in the AI and electronic component sectors. Taipei Times

This Week’s Recap

• December 2 (Monday): Overcast with possible showers, high of 24°C, low of 19°C.

• December 3 (Tuesday): Cloudy with scattered showers, daytime around 23°C, nighttime at 18°C.

• December 4 (Wednesday): Partly cloudy with light rain chances, high of 22°C, low of 17°C.

• December 5 (Thursday): Mostly sunny, reaching up to 23°C during the day, dropping to 18°C at night.

• December 6 (Friday): Sunny skies, daytime high of 24°C, nighttime low of 18°C.

• December 7 (Saturday): Clear and sunny, temperatures around 25°C during the day, 19°C at night.

• December 8 (Sunday): Partly cloudy with a slight chance of rain, high of 25°C, low of 19°C.

Next Week’s Forecast

• December 9 (Monday): Overcast with light rain expected, high near 22°C, low around 18°C.

• December 10 (Tuesday): Cloudy with scattered showers, daytime temperatures about 21°C, nighttime lows at 17°C.

• December 11 (Wednesday): Partly cloudy with a chance of light rain, high of 22°C, low of 17°C.

• December 12 (Thursday): Mostly sunny, daytime highs reaching 23°C, nighttime lows near 18°C.

• December 13 (Friday): Sunny skies, high around 24°C, low at 18°C.

• December 14 (Saturday): Clear and sunny, daytime temperatures up to 25°C, nighttime lows at 19°C.

• December 15 (Sunday): Partly cloudy with a slight chance of rain, high near 25°C, low around 19°C.

How does a restaurant introduce overseas cuisine to a new region while adapting it to local tastes? Check In Taipei, a Hong Kong-based restaurant serving contemporary Taiwanese cuisine, stands out by doing things differently. Jacky, the owner of Check In Taipei, shares the story of its beginnings and the journey to success.

Jacky’s interest in cooking began during his final year at university in Canada. After graduating, he worked various jobs in Hong Kong before deciding to shift careers. Check In Taipei originally belonged to his friends, and Jacky helped them manage it. However, as the business began to struggle, Jacky decided to take over and try to turn things around.

“The first couple years was a headache because nothing was working.” - Jacky

The first three years were a steep learning curve for Jacky, as his lack of restaurant management experience posed significant challenges. The turning point came when he made bold changes to ensure the business's sustainability.

To this date Jacky has opened multiple branches of Check in Taipei around Hong Kong in locations such as:

1. Yuen Long

2. Causeway Bay

3. Tsim Sha Tsui

Big Turning Point

After four years of dedication and hard work, Jacky finally found the formula for success, transforming Check In Taipei into a thriving establishment. Jacky pointed out some key factors on what turn the tides for his business some of them are:

1. Price

   Customers often compared menu prices between Taiwan and Hong Kong. Jacky decided to make the food more affordable, ensuring it appealed to a broader audience.

2. Design

   Unlike most Taiwanese restaurants in Hong Kong, which recreate a night market vibe, Check In Taipei offers a modern, contemporary experience, reflected in both its menu and ambiance.

3. Taste

   While embracing a modern approach, Jacky ensured the authentic flavors of Taiwanese cuisine were preserved. He went a step further by offering unique condiments, such as being the only restaurant in Hong Kong to serve beef fat at the table.

   

   One example is the Beef Noodle Soup, which he elevated by incorporating a cut of beef steak to enhance its taste and texture. Innovations like this, along with creative menu upgrades, are what truly distinguish Check In Taipei from its competitors.

Despite these changes, Jacky credits the launch of their mochi dessert as the game-changer. Inspired by a mochi shop in Tamsui, Taiwan, this dessert features a tapioca flour-based outer layer that is chewy like traditional mochi but melts in seconds. Its uniqueness brought long lines of customers and became a defining feature of the restaurant’s success.

“It was the first time where we would see lines of customers waiting.“ - Jacky

Why Taiwanese Cuisine

Jacky’s decision to serve Taiwanese cuisine was deeply influenced by his upbringing. Growing up in Canada, he often visited cafes serving Taiwanese dishes with his friends. These experiences left a lasting impression, and when it came time to open his own restaurant, Taiwanese cuisine was the natural choice. It represented both a connection to his past and a way to share the flavors he had grown to love with a wider audience.

Taiwanese Cuisine in Hong Kong is particularly famous for its iconic street foods. Many Taiwanese restaurants in the city aim to recreate the vibrant ambiance of a night market, offering menus that feature popular dishes such as:

1. Bubble Tea (Boba)

   A sweet tea-based drink with chewy tapioca pearls, available in various flavors and milk or fruit options.

2. Beef Noodles

   A comforting dish of tender beef, chewy noodles, and a savory, aromatic broth. A very popular dish among Taiwanese.

3. Taiwanese Fried Chicken

   Crispy, juicy fried chicken seasoned with five-spice powder, salt, and pepper, often served as a street food snack. It is commonly found in night markets.

4. Braised Pork Rice (Lu Rou Fan)

   A flavorful bowl of rice topped with slow-cooked minced pork in a soy-based sauce. A quick and affordable choice for a quick meal.

5. Oyster Omelets

   A mix of fresh oysters, eggs, and tapioca starch, pan-fried and topped with a sweet-savory sauce. This cuisine often paired with Lu Rou Fan.

6. Stinky Tofu

   Fermented tofu, deep-fried and served with pickled vegetables and chili sauce for a bold, acquired flavor.

Like many places, Hong Kong was heavily impacted by the global COVID-19 pandemic, with a significant drop in visitors from Taiwan. However, data shows a strong recovery, with over 1 million Taiwanese visitors recorded from the start of 2024 through October.

While this may not directly reflect the core dining audience at Check In Taipei, it offers insight into its potential customer base, particularly since Taiwanese residents in Hong Kong are noted as a key target demographic. This shows the immense potential for both Taiwanese cuisine and culture to flourish in Hong Kong.

What’s on the Menu

Check In Taipei offers a range of traditional Taiwanese dishes, including favorites like Lu Rou Fan and Dan Bing. But Jacky mentioned one dish that particularly stands out, which is the Taiwanese Beef Noodles. Instead of the usual large bowl, they’ve taken a different approach, serving it with modern plating to give customers a fresh and unique dining experience.

The drinks menu is just as impressive, with a variety of options from their popular milk series to creative cocktails. One highlight is their tea-infused spirits, where they use tea leaves to create unique flavors like Oolong Vodka and Tie Guan Yin Gin. It’s a clever way to blend traditional Taiwanese elements with something unexpected and modern.

Check In Taipei’s wide selection of Taiwanese dishes has made it a favorite among Taiwanese living in Hong Kong. Jacky shares that while some Taiwanese customers were initially skeptical, they became regulars after experiencing the authentic flavors of the food.

Wrapping Up

One of Jacky’s proudest achievements with Check In Taipei has been watching the brand grow and gain recognition, not just from locals but also from Taiwanese expats living in Hong Kong. For him, it’s not just about the success, it’s about seeing his vision come to life and knowing that people connect with what he’s created. This is especially meaningful given how tough the early years were, with constant struggles and uncertainty. Turning those challenges around and building something lasting has been incredibly rewarding.

Jacky is also deeply passionate about changing how people view Taiwanese cuisine. He wants customers to see it as more than just night market snacks or street food. At Check In Taipei, he focuses on showing a more refined side of Taiwanese flavors, blending tradition with modern presentation and techniques. This approach not only sets the restaurant apart but also gives diners a chance to experience a different, more nuanced take on the food.

For Jacky, it’s about more than just serving great dishes, it’s about creating an experience that stays with people. From the modern plating of their beef noodles to their unique tea-infused cocktails, he wants every detail to reflect the richness and creativity of Taiwanese culture. It’s this deeper connection that makes all the hard work worthwhile.

This Week’s Recap

• November 25 (Monday): Overcast with light rain, high of 24°C, low of 19°C.

• November 26 (Tuesday): Cloudy with scattered showers, temperatures around 23°C during the day and 18°C at night.

• November 27 (Wednesday): Partly cloudy with a chance of light rain, high of 22°C, low of 17°C.

• November 28 (Thursday): Mostly sunny, temperatures reaching up to 23°C during the day and dropping to 18°C at night.

• November 29 (Friday): Sunny skies, daytime high of 24°C, nighttime low of 18°C.

• November 30 (Saturday): Clear and sunny, with temperatures around 25°C during the day and 19°C at night.

• December 1 (Sunday): Partly cloudy, slight chance of rain, high of 25°C, low of 19°C.

Next Week’s Forecast

• December 2 (Monday): Overcast with possible showers, daytime high of 24°C, nighttime low of 19°C.

• December 3 (Tuesday): Cloudy with scattered showers, temperatures around 23°C during the day and 18°C at night.

• December 4 (Wednesday): Partly cloudy with a chance of light rain, high of 22°C, low of 17°C.

• December 5 (Thursday): Mostly sunny, temperatures reaching up to 23°C during the day and dropping to 18°C at night.

• December 6 (Friday): Sunny skies, daytime high of 24°C, nighttime low of 18°C.

• December 7 (Saturday): Clear and sunny, with temperatures around 25°C during the day and 19°C at night.

• December 8 (Sunday): Partly cloudy, slight chance of rain, high of 25°C, low of 19°C.

Tech Spotlight

• Taiwan Mobile partners with Lynk Global to test satellite technology enabling mobile phones to connect directly to LEO satellites, ensuring coverage in remote areas. CEO Ramu Potarazu highlights the success as a foundation for future applications. Taiwan News

• TSMC begins early equipment installation for its first 2nm fab in Kaohsiung, aiming for production in 2025 to meet soaring AI and chip demand. Mayor Chen Chi-mai highlights plans for four additional fabs, bolstering Taiwan’s semiconductor cluster. Taipei Times

• NYCU begins construction of $71M AI buildings in Tainan, funded by Wistron and Phison. Set to open in 2027, the facilities aim to drive AI development, industrialization, and talent growth through academia-industry collaboration. Taiwan News

Politics

• Taiwan invests $3B in AI, boosting computing power to 480 petaflops by 2028. VP Hsiao Bi-khim highlights semiconductor leadership, industry collaboration, and new AI facilities at NYCU’s Tainan Campus. Taiwan News

• Taiwan raises basic living expense tax deduction to NT$210,000 for 2024, benefiting 2.08M households but reducing tax revenue by NT$2.6B. Adjustments aim to ease financial burdens amid inflation, with total tax exemptions and deductions set to cost NT$24.3B. Taipei Times

• Taichung official Chang Ying-tang was dismissed for sexual misconduct, fined NT$300,000, and stripped of his pension. Delayed response sparks criticism, prompting calls for accountability and stronger harassment prevention. Focus Taiwan

Finance Focus

• Foxconn cites its global manufacturing footprint as a shield against potential U.S. tariffs under Trump, with ongoing investments in Mexico, Vietnam, and the U.S., including a $33M Texas facility for AI server production. Taipei Times

• CPC Corp and Formosa Petrochemical maintain gasoline prices at NT$28.6, NT$30.1, and NT$32.1, with diesel at NT$27.2 and NT$27 respectively, as CPC absorbs NT$23.53 billion in costs amid global trends and competition. Taipei Times

• Taiwan's economy showed a "yellow-red" light in October, signaling moderate growth despite a dip in industrial production and AI exports; the NDC remains cautiously optimistic about year-end recovery and future export growth driven by new AI and tech applications. Focus Taiwan

Global Focus

• Denmark urges Taiwan to accelerate its energy transition to meet rising green energy demands, achieve 30% renewable energy by 2030, and ensure global competitiveness. Danish firms offer support, emphasizing offshore wind power and net-zero goals by 2050. Focus Taiwan

• Taiwan urges China to lift its 2020 ban on mainland students studying in Taiwan, emphasizing genuine, diverse exchanges free of political agendas. The call comes amid a visit by 40 Chinese students, sparking concerns over potential propaganda motives. Focus Taiwan

• Taiwan and India signed an MOU to collaborate on marine science research in the Indo-Pacific, aiming to enhance international cooperation, technical exchange, and advancements in marine technology and polar research. Taiwan News

Taiwan in Numbers

• Taiwan's GDP is projected to grow 3.2% in 2025, down from 4.2% in 2024, driven by AI-led exports and strong private consumption. Taipei Times

• Taiwan's industrial production rose 8.85% in October, driven by strong AI and HPC demand, marking eight consecutive months of growth. Manufacturing output grew 9.32%, supported by advanced chip and data center demand. Taipei Times

• Taiwan's retail sales fell 0.5% year-on-year in October to NT$410.9 billion, ending 37 months of growth. Typhoons and lower oil prices drove declines in auto, department store, apparel, and gas station sales. Taipei Times

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  Our Latest Release

Taiwan, known for its technological innovation and vibrant startup ecosystem, has become a hub for cryptocurrency and blockchain projects. From decentralized finance to NFT platforms, Taiwanese companies are pushing the boundaries of blockchain technology to redefine global industries.

Taiwan has emerged as a fertile ground for blockchain development, with companies leveraging the island’s advanced tech infrastructure and regulatory-friendly environment. Having a diverse and complete ecosystem is essential for an emerging ecosystem to thrive and have projects collaborate to work on new innovations.  Key projects in Taiwan span across:

1. Exchanges

2. Decentralized Finance (DeFi)

3. Blockchain Security

4. Gaming and NFT Marketplace

5. Hardware Solutions

Exchanges

Centralized exchanges are the primary gateway for users to convert their fiat currency into cryptocurrencies, making them a crucial component of the digital asset ecosystem. These platforms facilitate high-volume transactions daily, acting as the backbone for liquidity and access in the crypto market. 

In Taiwan, several exchanges have emerged to meet the needs of both local and international users, each offering unique features and contributing to the development of the region's cryptocurrency landscape. Two of the most popular crypto exchanges in Taiwan are:

1. MaiCoin

   Founded in 2014, MaiCoin is Taiwan's largest cryptocurrency exchange by trading volume. It offers a platform for trading various digital assets. MaiCoin emphasizes security and compliance, integrating custodian bank services to safeguard user assets. In 2022, it was recognized as a leading emerging technology-focused start-up in Taiwan, highlighting its innovation and growth in the fintech sector. 

2. BitoPro

   Launched in 2018 by BitoEX, BitoPro is a prominent Taiwanese cryptocurrency exchange known for its user-friendly interface and a wide selection of cryptocurrency pairs. It supports trading in major cryptocurrencies and offers services such as crypto-to-crypto, fiat-to-crypto, and margin trading. BitoPro has expanded its services to include international markets, with plans to enter India and Singapore.

Decentralized Finance (DeFi)

Decentralized Finance (DeFi) is transforming Taiwan's financial and technological landscape by offering accessible alternatives to traditional banking. DeFi empowers individuals and businesses to engage in lending, borrowing, and investing without intermediaries. 

Taiwanese developers are actively contributing to global DeFi protocols, establishing the country as a hub for blockchain innovation. Additionally, DeFi creates economic opportunities through yield farming, staking, and liquidity provision while enabling global collaboration.

However, DeFi comes with risks that deters many investors that are not willing to tolerate the risks that comes with DeFi such as:

1. Smart Contract Vulnerabilities: Flaws in code can lead to exploits and financial losses.

2. Phishing and Scams: Unregulated environments attract bad actors targeting users.

3. Impermanent Loss: Liquidity providers face risks from token price fluctuations.

4. Rug Pulls: Fraudulent projects can disappear after raising funds.

5. Centralization Risks: Some DeFi platforms depend on centralized oracles and governance, increasing vulnerabilities.

Despite the inherent risks of DeFi, Taiwan has embraced the potential of decentralized finance, fostering a growing ecosystem of innovative projects and platforms such as:

1. Perpetual Protocol
   A decentralized exchange (DEX) specializing in perpetual futures contracts, allowing users to trade assets with leverage. Using virtual automated market makers (vAMMs), it provides liquidity without large capital requirements. Built on Ethereum and Layer 2 solutions, it offers fast, trustless trading without intermediaries.

2. XREX
   A blockchain-powered platform focused on cross-border payments and trade. XREX bridges traditional finance and DeFi, offering tools like BitCheck for escrow services and advanced compliance systems. It helps businesses in emerging markets reduce currency risks and transaction costs.

3. Teahouse Finance
   A DeFi platform offering secure on-chain asset management and tailored risk strategies. It provides tools like yield farming optimizers and structured investment products, catering to both retail and institutional investors with a focus on risk-adjusted returns.

4. XY Finance
   A cross-chain aggregator that simplifies asset swaps across multiple blockchains, including Ethereum, Binance Smart Chain, and Polygon. With smart routing for optimized fees and speed, it enables seamless multi-chain interactions, making cross-chain DeFi more accessible.

Blockchain Security and Compliance Solutions

Blockchain security and compliance are essential for building trust and ensuring the sustainable growth of decentralized ecosystems. In Taiwan, innovative companies play a vital role in safeguarding assets, protecting user data, and aligning blockchain technology with regulatory standards. 

These solutions reduce risks like hacks and fraud while fostering confidence in blockchain adoption across industries. As we explore the notable projects driving security and compliance in Taiwan, their impact on the country’s growing blockchain ecosystem becomes clear.

1. CoolBitX
   A leader in blockchain security, CoolBitX is known for the CoolWallet, a secure yet user-friendly hardware wallet for managing cryptocurrencies. Its Sygna compliance solutions help Virtual Asset Service Providers (VASPs) meet global regulatory standards, including the FATF Travel Rule, ensuring secure and transparent data exchanges.

2. CYBAVO
   CYBAVO specializes in enterprise-grade digital asset protection. Its CYBAVO VAULT offers secure cryptocurrency storage and asset management tailored for businesses, emphasizing security, compliance, and operational efficiency.

3. KryptoGO
   KryptoGO focuses on blockchain compliance with its KryptoGO Studio, an AI-powered platform that streamlines Know Your Customer (KYC) and Anti-Money Laundering (AML) processes. It enhances trust and transparency in digital transactions while ensuring regulatory adherence.

Hardware Wallets and Blockchain Devices

Hardware wallets and blockchain devices are critical components in securing digital assets and enabling seamless blockchain interactions. These tools provide a physical layer of security by safeguarding private keys offline, protecting users from online threats like hacking and phishing.

Taiwan has made notable contributions to the development of hardware wallets and blockchain devices. By focusing on security and user-friendly designs, local companies are supporting the adoption of secure solutions for managing digital assets. Here are some key projects making an impact in this field.

1. CoolWallet S

   Developed by CoolBitX, the CoolWallet S is a credit card-sized hardware wallet with encrypted Bluetooth connectivity, allowing secure and mobile-friendly asset management via a dedicated app. It supports multiple cryptocurrencies and features EAL5+ certified security for private key protection.

2. SecuX Technology

   SecuX Technology offers advanced hardware wallets like the SecuX V20 and W20, equipped with Infineon Secure Element chips (CC EAL5+ certification) for robust security. These wallets support over 1,000 cryptocurrencies and feature large touchscreens for easy navigation and transaction verification.

Gaming and NFT Marketplace

Gaming and NFT marketplaces are rapidly transforming the blockchain landscape, offering new ways to interact with digital assets and virtual economies. In Taiwan, these industries are thriving, driven by a strong tech-savvy community and innovative projects. 

Blockchain gaming is unlocking opportunities for play-to-earn models, while NFT marketplaces are reshaping digital ownership and creativity. Together, these sectors are not only fueling blockchain adoption but also redefining entertainment and commerce in the digital age.

1. Lootex

   Lootex is a gamer-centric NFT marketplace that enables users to trade virtual assets across multiple games and platforms. By focusing on the gaming community, Lootex provides a seamless experience for players to buy, sell, and discover unique in-game items and collectibles.

2. FormosaVerse

   FormosaVerse is an NFT e-commerce platform that showcases Taiwan-themed digital art and collectibles. It aims to promote Taiwanese culture and creativity by providing a marketplace for artists and creators to tokenize and sell their works as NFTs.

3. MaiCoin's Qubic

   MaiCoin Group launched Qubic, a platform that offers NFT creation and trading services. Qubic's Creator service allows brands and enterprises to develop their own NFT marketplaces, facilitating the integration of blockchain technology into various industries.

Future Outlook

Taiwan's blockchain and cryptocurrency ecosystem has demonstrated remarkable growth, driven by innovation and a diverse range of projects spanning exchanges, DeFi, security solutions, hardware devices, gaming, and NFTs. This vibrant ecosystem highlights the island's ability to integrate technology, creativity, and practical solutions for global challenges.

Looking ahead, Taiwan is well-positioned to play a pivotal role in the future of blockchain technology. With its strong tech infrastructure, innovative startups, and a growing emphasis on compliance and security, the nation is setting the stage for sustainable growth in the blockchain space. Collaboration among local projects and engagement with global ecosystems will be key to fostering innovation and addressing challenges such as scalability, security, and regulation.

As blockchain adoption continues to rise, Taiwan's contributions to the industry will likely expand, influencing how digital assets, decentralized systems, and creative economies evolve worldwide. With a forward-looking approach and a commitment to excellence, Taiwan is poised to remain a significant player in shaping the future of blockchain technology.

Tech Spotlight

• Taiwan commits NT$97.75 billion to AI data centers, boosting computing power from 20 to 480 petaflops by 2028. Minister Wu Cheng-wen emphasizes AI sovereignty, U.S. collaboration, and economic diversification, asserting TSMC’s strategic role remains secure. Taiwan News

• Taiwan and Poland sign an MOU to advance drone tech, targeting 10,000 drones monthly and NT$30 billion output by 2028, diversifying supply chains beyond China. Taiwan News

• TSMC to build 10 fabs globally by 2025, with capital expenditure projected at $34–38 billion. Seven fabs will be in Taiwan, focusing on 2nm production and advanced packaging. Overseas projects include expansions in the U.S., Japan, and Europe, marking a record-setting global expansion. SemiMedia

• Foxconn joins the Alliance for OpenUSD to support 3D interoperability and global collaboration. The move aligns with its focus on AI and digital twin technologies, enhancing smart manufacturing through open-source innovation. Foxconn

Politics

• Taiwan plans to implement a carbon control and trading system by 2028, with fees rising to NT$1,000–2,000 per ton. Major emitters remain the focus, but the reporting threshold will drop to 5,000 tons. Financial oversight aims to support the net-zero transition. Taiwan News

• Labor Minister Ho Pei-shan offers resignation over allegations of workplace bullying linked to an employee's suicide. The accused official faces possible dismissal, while the case is under prosecutorial review. Premier Cho orders a government-wide review of anti-bullying policies to enhance employee protection. Taipei Times

• Taiwan approves a NT$500 million plan (2025-2028) to support local specialty industries. The initiative includes regional competitions, branding, and marketing to boost urban-rural development and attract international tourists. Focus Taiwan

Finance Focus

• Nvidia posts $35.08B Q3 revenue (+94% YoY) and $19.31B profit, beating expectations. Demand for Hopper AI chips drives data center revenue up 112% to $30.8B. Blackwell AI chips expected to face supply constraints but exceed estimates next quarter. Nvidia forecasts $37.5B Q4 revenue as analysts eye a $4T market cap by 2025. Taipei Times

• Hon Hai secures a $1.1B loan amid surging AI server demand. Funds will support corporate operations as the company forecasts AI growth to rival mobile sales next year. Hon Hai is expanding server production in Mexico and relocating its Taiwan HQ to Kaohsiung. Q3 profit rose 14% YoY to NT$49.33B. Taipei Times

• Nearly half of Taiwan's companies plan 2025 raises averaging 3.2%, driven by labor shortages. Consulting (4.1%), communication equipment (3.8%), and semiconductors (3.7%) lead sectors. Year-end bonuses average 112% of monthly pay, with financial firms topping at 188%. Focus Taiwan

Global Focus

• Taiwan and Lithuania deepen ties as Foreign Minister Lin Chia-lung promotes collaboration in drone manufacturing and tech sectors. Lin highlights bilateral cooperation in semiconductors, lasers, and renewable energy, emphasizing Taiwan’s role in a democratic supply chain. Taiwan News

• Biden approves NT$10.7 billion sale of military aircraft and naval parts to Taiwan, supporting defense readiness through contracts valid until 2026. This deal follows ongoing US arms support for Taiwan's security. Taiwan News

• Taiwan ranks fifth in international student sources for the US, with 23,157 students in 2023-2024, a 6.1% increase. Most pursue graduate degrees (43.1%), while 28% engage in OPT, making Taiwan the fourth-largest OPT contributor. Taipei Times

Taiwan in Numbers

• Taiwan's export orders rose 4.9% YoY in October to $55.45B, driven by strong AI and chip demand, with electronics up 11.2% and US orders up 12.6%. Taipei Times

• Taiwan’s Q3 semiconductor output rose 9% QoQ to NT$1.38T, driven by peak-season demand and TSMC’s advanced processes. Annual output is projected at NT$5.3T (+22%). Taipei TImes

Our Latest Release

Taiwan’s Weather Update

This Week’s Recap

• November 18 (Monday): Overcast with light rain, high of 20°C, low of 18°C.

• November 19 (Tuesday): Cloudy with scattered showers, temperatures around 19°C during the day and 17°C at night.

• November 20 (Wednesday): Partly cloudy with a chance of light rain, high of 21°C, low of 18°C.

• November 21 (Thursday): Mostly sunny, temperatures reaching up to 22°C during the day and dropping to 19°C at night.

• November 22 (Friday): Sunny skies, daytime high of 23°C, nighttime low of 19°C.

• November 23 (Saturday): Clear and sunny, with temperatures around 24°C during the day and 20°C at night.

• November 24 (Sunday): Partly cloudy, slight chance of rain, high of 25°C, low of 20°C.

Next Week’s Forecast

• November 25 (Monday): Overcast with possible showers, daytime high of 24°C, nighttime low of 19°C.

• November 26 (Tuesday): Cloudy with scattered showers, temperatures around 23°C during the day and 18°C at night.

• November 27 (Wednesday): Partly cloudy with a chance of light rain, high of 22°C, low of 17°C.

• November 28 (Thursday): Mostly sunny, temperatures reaching up to 23°C during the day and dropping to 18°C at night.

• November 29 (Friday): Sunny skies, daytime high of 24°C, nighttime low of 18°C.

• November 30 (Saturday): Clear and sunny, with temperatures around 25°C during the day and 19°C at night.

• December 1 (Sunday): Partly cloudy, slight chance of rain, high of 25°C, low of 19°C.

Tech Spotlight

• TSMC halts 7nm chip supplies to Chinese AI firms, effective Nov 11, amid U.S.-China tensions. The suspension affects AI and GPU development, pushing firms to explore limited local alternatives. SemiMedia

• Foxlink launched Ubilink, Taiwan's most powerful supercomputer, in Tucheng, New Taipei, with 128 Nvidia H100 servers delivering 45.82 PFLOPs. Ubilink, representing 55% of Taiwan’s total supercomputing capacity, targets AI applications in drug development and smart healthcare. Taiwan News

• TSMC launched the Taichung Zero Waste Manufacturing Center, cutting 130,000 metric tons of waste and NT$1.5 billion in environmental costs annually. An MOU with the Ministry of Environment supports carbon capture tech development for broader sustainability impact. TSMC

• Feng Chia University launched its second research rocket, SHSR-Aero2 rocket, reaching 6.4 km altitude and enhancing Taiwan’s space tech under TASA’s support. Taiwan News

Politics

• Legislators Fan Yun and Puma Shen called for updates to Taiwan’s University Act, citing issues with autonomy that hinder oversight and leave universities vulnerable to exploitation. Proposed reforms aim to address pay for teachers, democratic representation for students, and security concerns over foreign influence. Taiwan News

• Taiwan's Ministry of Digital Affairs is investigating Taobao ads on Taipei's MRT system for possible legal violations. Concerns include user data security and compliance with Taiwan’s regulations on foreign businesses. Taiwan News

• The Executive Yuan approved a NT$15 billion anti-drug strategy focused on high-tech detection, targeting online trafficking, and cross-border intelligence sharing. Etomidate, a “zombie vape” drug, was reclassified as a Category 2 narcotic, with stricter penalties for possession and trafficking. Efforts include coordinated law enforcement and upgraded testing capabilities. Taipei Times

Finance Focus

• Central bank chief Yang Chin-lung warned that Trump’s return could increase trade tensions, especially regarding Taiwan's US$48 billion trade surplus with the U.S. Yang suggested expanding purchases of American energy and military goods to offset the imbalance, while noting potential challenges if Trump raises tariffs on China to 60%. Focus Taiwan

• Hon Hai plans expanded U.S. investments in AI and EVs, focusing on AI applications in Wisconsin and EV operations in Ohio. AI servers, projected to drive 50% of server sales by 2025, support Hon Hai's growth amid high global demand. Third-quarter profit rose 41% to NT$49.33 billion, with fourth-quarter sales expected to exceed NT$1.85 trillion. Focus Taiwan

• Taiwan's government plans to allocate NT$196.5 billion to tech in 2025, a 25% increase from 2024, focusing on semiconductors, AI, net-zero, and aerospace. Approval depends on legislative support amid opposition challenges. Focus Taiwan

Global Focus

• Premier Cho Jung-tai announced Taiwan’s readiness for a larger Indo-Pacific role, emphasizing defense, secure energy policies, and semiconductor growth. A task force, led by Deputy Premier Cheng, will outline new US cooperation strategies ahead of President-elect Trump’s administration. Taiwan News

• Four Danish MPs defied Beijing’s objections to visit Taiwan, discussing security, trade, and Denmark's policy on Taiwanese identification as Chinese. The delegation voiced strong support for Taiwan. Taiwan News

• Japanese visitors to Taiwan surpassed 1 million as of last month, up nearly 50% from last year. Diverse marketing efforts, including events, exhibitions, and promotions, have contributed to this surge. The Tourism Administration expects record-high Japanese arrivals, supported by campaigns like buy-one-get-one train deals and Tokyo commercials. Taipei Times

Taiwan in Numbers

• Average monthly wage rose 3.22% to NT$46,643 in September. Total wages hit NT$56,346. Low pay continues to drive labor shortages in hospitality. Taipei Times

• Taiwan’s tax revenue jumped 50.9% in October to NT$349.8 billion, led by corporate income tax and securities gains. Year-to-date revenue has hit the NT$3.3 trillion target. Taipei Times

• Gasoline and diesel prices drop NT$0.4 per liter this week. New prices: NT$28.4 for 92-octane, NT$29.9 for 95, and NT$31.9 for 98. Taipei Times

Our Latest Release

Taiwan’s Weather Update

This Week’s Recap

• November 11 (Monday): Partly cloudy with a chance of light rain, high of 24°C, low of 19°C.

• November 12 (Tuesday): Mostly sunny, temperatures reaching up to 25°C during the day and dropping to 18°C at night.

• November 13 (Wednesday): Sunny skies, daytime high of 26°C, nighttime low of 18°C.

• November 14 (Thursday): Clear and sunny, with temperatures around 27°C during the day and 19°C at night.

• November 15 (Friday): Partly cloudy, slight chance of rain, high of 26°C, low of 20°C.

• November 16 (Saturday): Overcast with possible showers, daytime high of 25°C, nighttime low of 19°C.

• November 17 (Sunday): Cloudy with scattered showers, temperatures around 24°C during the day and 18°C at night.

Next Week’s Forecast

• November 18 (Monday): Partly cloudy with a chance of light rain, high of 24°C, low of 19°C.

• November 19 (Tuesday): Mostly sunny, temperatures reaching up to 25°C during the day and dropping to 18°C at night.

• November 20 (Wednesday): Sunny skies, daytime high of 26°C, nighttime low of 18°C.

• November 21 (Thursday): Clear and sunny, with temperatures around 27°C during the day and 19°C at night.

• November 22 (Friday): Partly cloudy, slight chance of rain, high of 26°C, low of 20°C.

• November 23 (Saturday): Overcast with possible showers, daytime high of 25°C, nighttime low of 19°C.

• November 24 (Sunday): Cloudy with scattered showers, temperatures around 24°C during the day and 18°C at night.

Cryptocurrency investments have gained popularity, with some companies assisting clients in navigating the space, including cryptocurrency banks offering digital assets as financial products.

This popularity can be determined by the daily trading volume exceeding $100 million in one of Taiwan’s biggest exchanges, MaiCoin. Quantrend Technology, a Taiwanese quantitative trading firm, has achieved an annual trading volume surpassing NT$9 trillion (approximately US$300 billion), ranking it among the top ten global cryptocurrency market makers.

With cryptocurrency becoming more mainstream, it raises concerns among regulators due to the nature of crypto having a “wild west” nature where exploits and scams emerge at a rapid rate. 

Unethical companies exploit cryptocurrency through methods like ICO fundraising, arbitrage schemes, and fraudulent "mining profit" schemes targeting average consumers.

Government Response

Under Article 29 of the Banking Act, non-bank entities are prohibited from "accepting deposits" and performing activities typically reserved for banks. Violators can face penalties of up to 10 years in prison under Article 125 if they attract public capital by promising returns above the principal amount.

Taiwan courts initially ruled that digital assets like Bitcoin did not qualify as "deposits or capital" under the Banking Act. However, recent Supreme Court decisions reflect a shift in interpretation, viewing virtual assets as financial tools with market impact and accumulation potential similar to traditional currency, suggesting they may be subject to similar regulatory standards.

Some of the Taiwanese regulatory bodies overseeing cryptocurrency in Taiwan includes:

1. The Financial Supervisory Commission (FSC)

Taiwan's main financial regulator, responsible for enforcing anti-money laundering (AML) compliance among crypto firms and guiding self-regulation through the new Virtual Asset Service Provider (VASP) Association.

2. The Taiwan Virtual Asset Service Provider Association (VASP)

Recently established under FSC guidance, this association includes 24 crypto firms working to set industry standards and classifications that align with government goals for a secure and regulated crypto space.

3. The Ministry of Justice (MOJ)

Supports AML efforts in the crypto sector by working with the FSC to enforce compliance for local and foreign firms. Recent MOJ proposals aim to introduce stricter AML requirements and penalties for non-compliance.

4. The Central Bank of Taiwan

Although not a direct regulator of crypto, the Central Bank is developing a central bank digital currency (CBDC) and exploring tokenization, which may impact Taiwan’s digital currency ecosystem.

Stablecoin Initiatives

Taiwan’s Central Bank is advancing its digital currency work, recently completing a feasibility study for a wholesale CBDC and planning further pilots for a retail, or “universal,” CBDC.

Deputy Governor Chu Mei-lie highlighted tokenization as a major goal, with the CBDC positioned to anchor tokenized deposits, stablecoins, and serve as an extra payment option in a tokenized world.

Key Developments:

• Universal CBDC Capabilities: Wallet creation, exchange, transfers, shopping, and digital coupons have been tested with five commercial banks.

• Scalability: The CBDC platform currently supports 20,000 transactions per second, covering Taiwan’s 23 million residents, with plans to increase capacity.

• Offline Functionality: The Central Bank is researching options for offline CBDC use.

• Global Integration: Ongoing collaborations with BIS and Swift aim to enhance Taiwan’s role in the global digital finance ecosystem.

Taiwan’s CBDC initiative reflects a commitment to secure, modern digital finance that supports tokenized assets, expands financial inclusion, and streamlines cross-border payments.

In the private sector, Taiwan’s largest crypto exchange, MaiCoin, is preparing to launch a New Taiwan Dollar-backed stablecoin (TWDC) at a 1:1 ratio with the NTD. Led by Leo Seewald, former BlackRock Taiwan head and director at MaiCoin, this initiative aims to foster a stable, regulated digital currency ecosystem in Taiwan.

Seewald views stablecoins as key to bridging traditional finance with the future of digital assets. By ensuring TWDC’s stability and alignment with Taiwan’s regulatory framework, MaiCoin aims to create a trusted platform for crypto transactions and investment.

MaiCoin’s Strategy:

• Focus on Stability: TWDC will be conservatively managed to ensure liquidity and minimize risk, distinguishing it from more volatile crypto assets.

• Collaboration: MaiCoin is engaging with local and international partners including payment platforms, financial institutions, and tech companies to support TWDC’s adoption in Taiwan and beyond.

• Regulatory Engagement: Taiwan’s policymakers are actively engaging with MaiCoin, emphasizing collaboration for a safe and transparent crypto ecosystem.

MaiCoin’s stablecoin initiative represents a significant step in Taiwan’s evolving crypto landscape, aligning with broader national efforts to integrate stable, secure digital assets into everyday financial activities.

Why Local Currency Stablecoin?

XREX, a Taiwan-based blockchain financial institution licensed by the Monetary Authority of Singapore, is at the forefront of stablecoin adoption in Asia. As a co-organizer of the Stablecoin Summit 2024, XREX promotes collaboration between stablecoin issuers, DeFi protocols, and traditional financial institutions to:

• Drive efficient cross-border payments

• Enhance financial inclusion, particularly in emerging markets

Benefits of a Local Currency Stablecoin

CEO Wayne Huang emphasizes the importance of regulatory-compliant stablecoins, which aligns with XREX’s vision of a secure, regulated blockchain ecosystem. An NTD-backed stablecoin would offer key benefits for Taiwan:

• Reduced Reliance on Foreign Currencies: Enabling digital transactions without converting to foreign currencies.

• Lower Transaction Fees: Providing more affordable cross-border payment options.

• Simplified Trade: Streamlining transactions for businesses and individuals alike.

• Enhanced Stability: Giving Taiwan’s citizens and businesses a reliable digital currency option.

Through these initiatives, XREX aims to position Taiwan as a leader in blockchain finance, using stablecoins to support local economic growth and innovation.

Security and Fraud

Taiwan has recently intensified efforts to combat crypto-related crime, highlighted by its largest cryptocurrency money laundering case to date, involving 324.2 million USDT. 

The main suspect, surnamed Chiu, along with three accomplices, allegedly directed victims to transfer funds to fraudulent accounts. These funds were converted into cryptocurrency, transferred to overseas exchanges, and cashed out. Confiscated assets included luxury vehicles, high-end watches, work phones, and narcotics.

In response to cases like this, Taiwan’s Legislative Yuan introduced the Virtual Asset Management Bill, aiming to enhance consumer protection and regulatory oversight. Key measures in the bill include:

• Segregating Customer Funds: VASPs must separate customer assets from company reserves.

• Internal Controls: Mandated audits and control systems to reduce fraud risks.

• Licensing: VASPs without a license may face fines between 2–20 million TWD ($60,000–$600,000), with a six-month compliance period for existing firms.

This legislation reflects Taiwan’s commitment to a secure and compliant cryptocurrency industry, focusing on consumer safeguards to deter fraud.

Further exposing vulnerabilities within crypto, Taiwan’s "Creative Private Room" scandal, often compared to South Korea's Nth Room, revealed severe abuses in the digital space. This platform distributed illegal videos of underage exploitation, using blockchain wallets to handle payments. 

XREX, a blockchain financial institution, conducted an in-depth investigation into the money flow linked to “Creative Private Room,” tracking on-chain transactions from four wallets associated with the platform. XREX’s report revealed the payment network behind this operation, pinpointing key actors and potential beneficiaries.

The XREX report highlights the need for strengthened digital asset regulations in Taiwan, raising important questions:

• User Identification: How can wallets used in criminal activities be connected to real identities?

• Transaction Tracking: What tools can trace illicit funds and reveal the structure behind criminal operations?

These cases emphasize the urgency of Taiwan’s regulatory developments, including stricter AML standards, VASP registration, and proposed digital asset legislation. With these measures, Taiwan is building a more transparent crypto ecosystem capable of identifying and preventing illicit activities.

Conclusion

Taiwan’s approach to cryptocurrency balances innovation with strong consumer protection and security measures. By establishing a robust regulatory framework, Taiwan aims to create a safe, transparent ecosystem where digital assets can thrive responsibly.

From stablecoin initiatives to the XREX investigations and new regulations, Taiwan’s proactive measures set a regional standard for balancing growth with oversight. Through collaboration and a commitment to security, Taiwan is paving the way for a secure, accessible future in digital finance.

Reference

• https://international.thenewslens.com/article/187046

• https://restofworld.org/2023/taiwan-asia-crypto-capital/

• https://winklerpartners.com/is-it-legal-for-companies-to-receive-cryptocurrencies-from-individuals-to-assist-them-with-trading-in-taiwan/ 

• https://www.ledgerinsights.com/basel-committee-consult-stablecoins-this-year/

• https://www.taiwannews.com.tw/news/4442163

• https://www.theblock.co/post/299888/taiwan-forms-crypto-industry-association-as-major-step-toward-self-regulation 

• https://xrex.io/stablecoin-summit-2024-returns-to-singapore/ 

• https://www.binance.com/en/square/post/2023-11-01-taiwan-authorities-bust-largest-cryptocurrency-related-money-laundering-case-1591982 

• https://xrex.io/xrex-report-taiwan-nth-room-analysis-en/