Taiwan's Executive Yuan announced the list of new cabinet members on April 16, and J. W. Kuo, chairman of semiconductor material firm Topco Group, is nominated as the new Minister of Economic Affairs.
Mr. Kuo is well-connected in the political and business sectors. He is also actively involved in the academic and public association fields.
In addition to his expertise in semiconductors, he has been doing business in environmental engineering, sports, and food retailing. Industry insiders believe his rich experience in cross-disciplinary industries will help strengthen Taiwanese industries' position in the international supply chain.
As geopolitics and talent shortages have intensified, Kuo has shared his ideas about Taiwan's regional development and talent challenges. In terms of regional development, Kuo coined the phrase "Taiwan's territorial extension" as the main axis to give his views on the overseas expansion of the industry.
Concerning TSMC's recent move to establish a plant in Germany, Kuo said that he has been following in the footsteps of his customers and is considering setting up a European base to expand market opportunities in Europe actively. It is worth noting that he is not looking at Germany, but rather the neighboring country, the Czech Republic, hoping to utilize the capacity to establish a semiconductor supply chain in the Czech Republic to serve European customers nearby.
In terms of the Southeast Asian market, Kuo pointed out in a previous interview with DIGITIMES in 2022 that supply chain integration can help the overall development of suppliers, and the government can play the role of seeking "territorial extension."
He cited Singapore as an example and pointed out that Singapore went to Suzhou, China, to build a science and technology park, which is the "extension of Singapore's territory."
Kuo argued against people who insist that TSMC should stay in Taiwan. He said R&D should remain in Taiwan but set up smart manufacturing hubs overseas to maintain Taiwan's competitiveness in the semiconductor industry.
Kuo also mentioned that the key to corporate competition is talent. In recent years, many industries in Taiwan have suffered a talent shortage, and he believes that cultivating talent is the key to corporate development. His group has been recruiting talent from different cultural backgrounds and at the same time encouraging employees to pursue further education.
Kuo advocates attracting international talents to Taiwan to enhance its global competitiveness. He observed that the government is too slow in issuing residence permits to foreigners in the job market and stressed that the world's best and brightest should be able to come to Taiwan for employment. However, Kuo also said that the current "political considerations" may be an obstacle at this stage.
