Weekly Roundup: Key Developments in Tech, Politics & Business, and Global Affairs in Taiwan
13 September 2024
Technology
Jensen Huang stated that he would consider placing orders with manufacturers other than TSMC if necessary, but warned that quality might decline
Nvidia CEO Jensen Huang mentioned at the Goldman Sachs Technology Conference that it might consider buying from different wafer foundries due to the geopolitical tension in Taiwan, Jensen Huang warned that if this happens the product quality might decline but supply will be maintained. Jensen Huang further stated that TSMC is the best company in the world in the semiconductor industry and is far ahead than its competitors.
Market observers believe that Samsung might be an alternative but they have been facing quality issues and have been unable to secure Nvidiaʼs advanced chip orders. Samsungʼs 3nm process yield improved to nearly 20% but mass production requires at least 60%.
Source: UDN News
https://udn.com/news/story/6811/8224394?from=udn-catelistnews_ch2
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Zeiss establishes its presence in Taiwan with the 'Taiwan to Global' strategy, recognized by the Ministry of Economic Affairs for its local achievements
Zeiss have officially signed an investment letter of intent with the Ministry of Economic Affairs at SEMICON Taiwan. Zeiss plans to invest NT$6.5 billion in Taiwan over the next five years and over NT$10 billion in the next ten years, focusing on integrating innovative technologies with local resources.
In order to develop sophisticated technologies, Zeiss invests 15% of its annual revenue into R&D, covering industries such as vision care, medical technology, industrial metrology, semiconductors, and microscopy. Since entering Taiwan in 2018, Zeiss has rapidly grown, setting up logistics, training, and innovation centers to strengthen Taiwanʼs technology industry chain.
Source: Business Weekly
https://www.businessweekly.com.tw/business/indep/1004816
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Over 3 million pre-orders in 3 days! The world's first 'tri-fold phone' scalper prices soar to NT$270,000, benefiting these Taiwanese manufacturers
Huawei's Mate XT is the world's first tri-fold phone, attracting over 3 million pre- orders in just three days despite no official pricing or specifications at the time. Phone scalpers are selling the phone at RMB 60,000 (approximately NT$270,000). The Mate XT is expected to have 16GB of RAM, 512GB or 1TB storage, and a 10- inch screen when fully unfolded.
Taiwanese phone hinge manufacturers such as Jarllytec, Snycmold, and Shin Zu Shing saw stock price gains due to the high demand. Official pricing for the Mate XT may start at RMB 15,000 (around NT$67,600) , with the highest model priced above RMB 20,000 (around NT$90,000).
Source: Business Weekly
https://www.businessweekly.com.tw/business/blog/3016629
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Politics & Business
Pro-Russian hackers attack Taiwan: Government banks and stock exchange affected, Ministry of Digital Affairs responds
On the afternoon of the 12th of September, websites of the Taiwan Stock Exchange, Directorate-General of Budget, Accounting and Statistics, Mega Financial Holdings, and Chang Hwa Bank were hit by DDoS attacks, causing outages and connection issues. The Pro-Russian hacker group NoName057 claimed responsibility, targeting Taiwanese government and financial websites, including Songshan Airport.
In response to the attack Mega Financial Holdings and Chang Hwa Bank immediately activated defense mechanisms, and their websites have returned to normal with no major impact on operations. The Ministry of Digital Affairs' Cyber Security Agency is monitoring the situation and assisting organizations in strengthening defenses.
Source: Storm News
https://www.storm.mg/article/5237790
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Surpassing Expectations! Taiwan's exports in August show ten consecutive months of growth, hitting a new monthly high. Why is it performing so well?
The Ministry of Finance announced today that Taiwanʼs exports in August reached USD 43.64 billion, a new monthly high with a 16.8% year-on-year growth, marking 10 consecutive months of growth. Cai Meina, director of the Statistics Department of the Ministry of Finance pointed out four reasons for why Taiwan's exports performed so well in August:
Global consumer product inventory restocking.
Strong demand for AI and high-performance computing products.
Stocking of new mobile devices by international brands.
Shipment delays due to a typhoon in July.
ICT and audiovisual products exports saw a record high of US$12.99 billion in August marking a 71.3% year-on-year increase, contributing 86% to the total export growth. Meanwhile, Mineral products exports dropped 10.6% due to falling crude oil prices, which is the only major category to experience this decline.
Source: Business Weekly
https://www.businessweekly.com.tw/business/blog/3016627
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The Executive Yuan will approve the extension of the day trading tax cut for another 3 years
The day trading tax rate was halved from 0.3% to 0.15% in 2017 and has been extended twice since them. Recently, The Executive Yuan approved another 3- year extension, pushing the deadline to December 31, 2027. This extension of tax cut is executed with the aim of boosting trading volume and liquidity in the securities market and reducing uncertainty.
The Financial Supervisory Commission initially proposed a 5-year tax cut extension, but the Finance Minister Zhuang Cuiyun opted for 3 years, he added that tax reduction should not be extended for such a long time so that there is room for timely adjustments.
Source: LTN News
https://news.ltn.com.tw/news/politics/breakingnews/4797333
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International
Taiwanese tea wins the UK Food Award. Judges: It's the 'honey champagne' of the tea world
Taiwanese tea producer "Lin Jun Jie Tea Garden" from Hualien won the prestigious "Golden Fork" award at the UK Great Taste Awards. This is the first time Taiwanese tea has won this award, and it was recognized for its elegant "Green Lizard Honey-Scented Black Tea."
The judge Silvija Davidson praised Lin Jun Jieʼs tea, comparing them to “honey champagneˮ for its exquisite flavor and aroma. The Great Taste Awards is a highly competitive international food award, with only 1.9% of the 13,672 entries receiving 3 stars. These products from 115 countries have to go through more than 500 judges and 92 days of evaluation and discussion.
Lin Jun Jieʼs success marks the second consecutive year for a Taiwanese product to be winning a Gold Fork award. Lin Jun Jie adjusted the tea-making process to enhance its floral notes and has attracted international buyers, with the tea set to launch in the UK in October.
Source: LTN News
https://news.ltn.com.tw/news/world/breakingnews/4797632
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Former U.S. Ambassador to the United Nations points out Taiwan's defense issues: Should strengthen asymmetric capabilities
Former U.S. Ambassador to the UN, Kelly Craft, emphasized that Taiwan should invest in low-cost, high-efficiency asymmetric capabilities, including unmanned surface vessels, drones, and naval mines to disrupt Chinaʼs blockades or other actions. Kelly craft pointed out that Taiwan is wealthier than other countries like Germany, South Korea, the UK, and Japan. Its development is often referred to as the “Taiwan Miracleˮ. However, Taiwan's success comes with responsibility. Kelly Craft questioned if the 2.5% GDP investment of Taiwan into defense is enough when considering the threats China is putting out.
Source: Storm News
https://www.storm.mg/article/5237305
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Jensen Huang's one statement boosts AI stocks! Taiwan's stock market surges by over 600 points as foreign investors buy TSMC and Foxconn
Taiwan's stock market surged by 622.25 points, closing at 21,653.25 points, marking the fourth-largest single-day gain in its history. Foreign investors bought over NT$36.3 billion worth of stocks, including TSMC and Foxconn. Analysts noted that NVIDIA CEO Jensen Huang mentioned the high demand for the Blackwell architecture chips which then drove NVIDIAʼs stock price up alongside with the U.S. and Taiwan stock markets. Analysts believe that AI stocks may once again lead the market.
Source: Storm News
https://www.storm.mg/article/5237746