Taipei: Taipei Deputy Mayor Lee Shu-chuan announced on Sunday that the city government intends to send a mutual contract termination document to Shin Kong Life Insurance. The document, to be dispatched on Monday, is intended to facilitate discussions regarding the surface rights of plots T17 and T18 in Beitou Shilin Science Park, where Nvidia plans to establish its new headquarters.
According to Focus Taiwan, the city is keen on accommodating the U.S. artificial intelligence chip giant at its preferred location and has thus requested Shin Kong Life to mutually end its existing contract with the city government. The current complications regarding the surface rights of plots T17 and T18 arise from Shin Kong Life’s successful bid in 2021, which included a clause preventing the company from transferring its surface rights until construction was completed and building permits were secured.
Although Shin Kong Life has expressed willingness to directly transfer the surface rights to Nvidia, the city government has stated that such a move would breach the contract. Lee highlighted that Shin Kong Life has held the rights for three years without initiating construction, raising concerns about the fairness of a swift transfer to the company over other bidders from the 2021 tender.
Shin Kong Life contends that the city’s proposed conditions for contract termination could harm its future expected benefits and shareholder interests, potentially implicating company executives in a breach of trust. During a press event on Thursday, Lee invited the company to clearly outline any conditions necessary to address these concerns, which could then be discussed with the city.
Meanwhile, Shin Kong Life Chairman Mark Wei informed CNA that he has not yet received any documents from the government, leaving him unaware of the specific details involved. Wei stated he would engage with the city upon receiving and reviewing the documents.
Adding another layer to the situation, Minister of Economic Affairs Kung Ming-hsin confirmed on Wednesday that Nvidia had requested the ministry to suggest alternative sites for its planned headquarters in Taiwan.
