Taiwan semiconductor veteran JW Kuo named as economy minister as new government signals plans to reduce reliance on mainland China will continue

Kuo, the co-founder of Topco Scientific, has extensive experience of global supply chains and has vowed to use his contacts to help the economy

Next government has signalled it will continue current policy of diversifying trade links and developing core industries, including cybersecurity and defence

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JW Kuo, also known as Kuo Chih-hui, will also be tasked with ensuring a reliable power supply. Photo: CNA

Published: 9:49pm, 16 Apr 2024Updated: 9:53pm, 16 Apr 2024

A Taiwanese business leader with a strong background in the semiconductor industry will become the island’s next economic affairs minister, in which role he is expected to continue the strategy of reducing economic reliance on the Chinese mainland.

Kuo Chih-hui, 71, also known as JW Kuo, co-founder of Topco Scientific which supplies electric components, will take office next month when president-elect William Lai Ching-te is sworn in.

The company supplies semiconductors, optoelectronics and solar energy products to clients including Taiwan Semiconductor Manufacturing Co, a world-leading chip maker, giving Kuo a strong grounding in global supply chains.

“We have great anticipation [Kuo] will leverage his profound knowledge and vast network in the industry to continue promoting the six core strategic industries in Taiwan,” premier-designate Cho Jung-tai told a news conference in Taipei.

The six core industries – information and digital technology, cybersecurity, medical technology, green and renewable energy, and national defence – were identified as such by the outgoing administration of President Tsai Ing-wen, and Cho’s comments indicate the next government will continue those policies.