REPORTER:
A legal dispute is brewing over these two plots of highly valuable yet barren land, what are supposed to be the site of Nvidia’s new Taiwan office. The Taipei City government says it's looking to end things with the current contract holder, Shin Kong Life, citing reasons of stalled development.
Lien Tang-kai (LEGAL AFFAIRS DEPT., TAIPEI CITY GOVERNMENT):
Ragarding the land use rights for plots T17 and T18
Shin Kong Life has fallen seriously behind in construction
failing to meet the expectations
set by the city government upon approving the project.
Therefore, we will not approve the contract renewal
when the time comes at the end of the year.
REPORTER:
But officials’ main concern seems to be TS Financial Holdings, created from the merger of Shin Kong and Taishin Financial. To transfer land use rights from the current subsidiary to the new parent company, the two need to obtain written consent from the Taipei City government, which they have not. But TS Financial Holdings says it’s ready to talk.
Welch Lin (PRESIDENT & SPOKESPERSON, TS FINANCIAL HOLDINGS):
We hope all parties involved
will refrain from making remarks through the media.
The most important thing right now
is for both private parties and the Taipei City government
is to sit down together and work to keep Nvidia [in Taipei].
REPORTER:
Some city councilors also question Shin Kong Life’s demand for a termination fee, a claim that Shin Kong Life has firmly denied. The company says it originally asked Nvidia for 350 million US dollars to compensate for its projected profits in a written agreement, but since that agreement expired in late September, Nvidia won't need to pay Shin Kong Life, nor would the city government be responsible for payment.
REPORTER:
Meanwhile, the deadline for a settlement looms. Nvidia has asked the economy ministry to offer a list of alternative sites by October 24th. As other major cities bid to host the tech giant, the Taipei City government has also suggested a much smaller plot of land nearby, known as T12, and is determined to stay Nvidia's top choice.
Chiang Wan-an (TAIPEI MAYOR):
Nvidia has made [its stance] clear.
Once Shin Kong Life and the Taipei City Government
terminate the agreement
we will grant the land use rights to Nvidia
through a special project.
The city government’s position has been clear.
We will do everything we can to keep Nvidia in Taipei.
We’ll also work closely with all parties
to ensure the process goes smoothly.
REPORTER:
Whether or not Taipei can make that happen before Nvidia’s deadline, the common goal is to find a home for the company in Taiwan, to secure the country’s strategic role in the global chip industry.
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