Latest news with #ChoJung-tai
Otago Daily Times
18-05-2025
- Politics
- Otago Daily Times
Taiwan shuts down its last nuclear reactor
A slogan is displayed on a building, using laser light, as Taiwan shuts down its last Nuclear reactor, in Taipei, on Saturday. PHOTO: REUTERS Taiwan on Saturday began to shut down its last active nuclear reactor, officially marking its departure from atomic power. "This sends a strong message not only to other Asian nations like Japan and Korea but also to the rest of the world that nuclear power is unnecessary," Tohoku University professor Jusen Asuka told DPA. The decommissioning of Taiwan's older nuclear power plants began in 2018 and 2021, followed by the shutdown of Maanshan Nuclear Power Plant's first reactor in July 2024. At its peak in the mid-1980s, when all six reactors were active, nuclear power provided more than 50% of Taiwan's electricity, but in 2024 its share dropped to about 3%. On Friday, Premier Cho Jung-tai assured the public that power supply would remain stable despite rising demand, driven by key industries such as semiconductors and artificial intelligence. Critics have questioned whether Taiwan's growing energy needs can be sustainably met without nuclear power. Given the ongoing tensions with China, some specialists argue for greater energy independence through a diversified supply. — DPA
Straits Times
14-05-2025
- Business
- Straits Times
Taiwan opens door to restart atomic power plants in reversal
The Bill comes just days before Taiwan's last operating reactor is set to go offline. PHOTO: AFP Taiwanese lawmakers revised a nuclear power Bill that effectively opens the door for a restart of the island's atomic plants, underscoring a wider policy shift as its energy demand grows and geopolitical tensions worsen. Under the amended law, nuclear plants that could previously operate for only 40 years will be allowed to renew or extend their licences for up to 20 years at a time, according to legislative Speaker Han Kuo-yu. The revision also allows operators to apply for renewal of a licence before or after it expires. Energy security is a critical issue for Taiwan, which has sought to phase out its nuclear industry but has also been forced to contend with the needs of a vital chipmaking industry and an uncomfortable reliance on imported fossil fuel. Concerns have increased as Beijing exerts more pressure and the technology industry's power demands soar. The Bill comes just days before Taiwan's last operating reactor is set to go offline. The May 17 closure will not be averted, but May 14's vote hints at a reversal that could bring the territory in line with a global trend of renewed interest in nuclear energy, seen as an effective, low-carbon solution for the world's needs. Taiwan's Premier Cho Jung-tai told a locally produced podcast that his Cabinet would not oppose bringing back decommissioned reactors if the legal amendment is approved. But he added that it would take 3½ years to review safety before a restart, citing state-owned Taipower's estimate. The government does not have immediate plans to evaluate any nuclear plant extensions or restarts, according to a statement by the Cabinet on May 14 after the passage of the Bill. That is because detailed regulations have not been formulated yet, it said. Using nuclear power could slash Taiwan's reliance on imported liquefied natural gas – which arrives by sea and would be vulnerable in the event of any sharp rise in tensions with Beijing, particularly a naval blockade. It would also ease fears about energy security in the coming years as power consumption is set to grow by about 13 per cent by the end of the decade, thanks to the rapid growth of artificial intelligence. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
30-04-2025
- Business
- Business Times
Taiwan's economy beats estimates on pre-tariff export rush
[TAIPEI] Taiwan's economy grew much faster than expected in the first quarter, fuelled by a surge in exports as companies rushed to ship goods ahead of looming US tariffs. Gross domestic product expanded 5.37 per cent from a year earlier, according to a statement by the statistics bureau in Taipei on Wednesday (Apr 30). That compares with the 3.6 per cent growth estimated by economists surveyed by Bloomberg. Taiwan's export-oriented economy has benefited from a surge in global demand for its high-tech products underpinning AI development in recent years. Exports from the island in March rose to a record US$49.6 billion, with shipments to the US and Asean countries also seeing new highs in that month. On April 2, US President Donald Trump announced sweeping 'reciprocal tariffs' on almost all economies. Taiwan was slapped with a 32 per cent levy, although the higher duty was later postponed for 90 days. The tariff threat has prompted economists and analysts to lower their estimates for Taiwan's economic growth this year, with Morgan Stanley cutting its forecast to 2.2 per cent from 3.4 per cent. The Chung-Hua Institution for Economic Research, a semi-official think tank based in Taipei, even projected that growth could drop to 0.16 per cent in the worst-case scenario. With uncertainty looming, Morgan Stanley analysts expect Taiwan's central bank to begin its rate-cutting cycle as early as September. Taipei has pledged to reduce non-tariff trade barriers and said it would increase purchases of American energy, agricultural products and military goods. The island's Premier Cho Jung-tai has said that trade talks are expected to take place in May. Earlier in April, Taiwan Semiconductor Manufacturing, Taiwan's biggest company and the go-to supplier of the most advanced chips for Nvidia and Apple, reported better-than-expected results for the first quarter. The firm continued to hold an optimistic outlook for growth this year despite the tariff risks. BLOOMBERG
Yahoo
30-04-2025
- Business
- Yahoo
Taiwan's government strengthens 'silicon shield,' restricts exports of TSMC's most advanced process technologies
When you buy through links on our articles, Future and its syndication partners may earn a commission. Taiwan plans to tighten control over exports of advanced process technologies as well as outbound semiconductor investments, reports Economic Daily. The new legal measures will enforce the 'N-1' technology restriction, essentially barring TSMC from exporting its latest production nodes, and introduce penalties for violations— but there's a major catch for TSMC. The 'N-1' policy, confirmed by Premier Cho Jung-tai, will apply to TSMC's planned production in the United States. This approach restricts export of the most advanced process technology, allowing only one generation older to be deployed abroad. Before this amendment, Taiwan's regulations did not explicitly require such controls for semiconductor manufacturing processes. These rules are based on Article 22 of the amended Industrial Innovation Act, which is expected to take effect by the end of 2025. There is a major catch about TSMC's most advanced process technology, though. Today, TSMC has one leading-edge node: N3P manufacturing technology. But by the end of the year, it will start producing chips on its N2 fabrication process, which will become its flagship. Starting from late 2026 and onwards, however, TSMC expects to have two flagship nodes: N2P for client applications that do not need advanced power delivery and A16 with Super Power Rail backside power delivery for HPC applications that consume a lot of power. It remains to be seen which process technology will be considered as 'flagship' by Taiwanese authorities, and therefore export restricted, or if the government will ban exports of both nodes for a year when TSMC introduces successors for N2P and A16, its A14 and A16P nodes. In addition, the amended law, passed after its third reading in the Taiwan parliament, gives Taiwan's authorities the right to reject or cancel overseas investments if they are found to compromise national security, damage the country's economic development, violate treaty obligations, or result in unresolved major labor disputes. Under the new law, these six conditions are retained, but are now backed by higher-level legislation. The revised Article 22 also includes the possibility of partially or fully rejecting investments or attaching conditions to approval. If a company receives approval but later triggers any of these risks, the central authorities are authorized to demand corrective action or revoke the investment entirely if the issue is serious. The new law elevates existing investment restrictions from sub-regulations to formal legislation and adds legal consequences for non-compliance. The Ministry of Economic Affairs stated that the law's implementation date will be announced only after the sub-regulations are revised, within six months. This means the earliest enforcement could begin by late 2025. The regulation's rollout comes amid rising geopolitical risks and after TSMC announced plans to increase its investments in its American production capacity from $65 billion over four years to $165 billion over an undisclosed period. The amendment also introduces penalties that were not present before. Companies that invest abroad without prior approval may face fines ranging from NT$50,000 to NT$1 million ($30,830). If an investment is approved but the company later fails to correct identified violations — such as endangering national security or harming economic development—the authorities can impose repeated fines of NT$500,000 ($15,414) to NT$10 million ($308,286). But given that TSMC plans to invest $165 billion in its U.S. facilities, a $300,000 fine will hardly affect the company's bottom Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.
Straits Times
24-04-2025
- Business
- Straits Times
Taiwan proposes another $10 billion in aid to deal with US tariffs
Taiwan proposes another $10 billion in aid to deal with US tariffs TAIPEI - Taiwan's premier on Thursday proposed another $10 billion in spending as a special budget to help the economy deal with the impact of U.S. tariffs. Taiwan had been due to be hit with 32% U.S. tariffs two weeks ago, until President Donald Trump paused his "reciprocal tariffs" for 90 days. Speaking at a news conference in Taipei, Premier Cho Jung-tai said the initial T$88 billion ($2.71 billion) aid package would be increased to as much as T$410 billion ($12.61 billion), including financing assistance for companies, measures to stabilise the job market and subsidies for electricity. The special budget will need to be approved by parliament, where opposition parties have a majority and have this year imposed sweeping cuts on Taiwan's main budget, saying they are targeting waste. Taiwan's government has already begun talks with the United States on the tariffs and pledged billions of dollars in new purchases to reduce the island's yawning trade surplus. Increasing purchases of U.S. natural gas and oil is a focus of Taiwan's tariff talks with the United States, President Lai Ching-te said on Tuesday. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
