Firm With Land Rights Ready for Talks About Nvidia Taipei Office

TaiwanPlus News

Cities in Taiwan are vying to be the new site of Nvidia's Taiwan headquarters as the tech giant encounters land rights issues for its chosen lot in Taipei. TS Financial Holdings, the soon-to-be parent company of the land rights holder, Shin Kong Life, says it's ready to talk details with the Taipei City government and all private parties involved.

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00:00A legal dispute is brewing over these two plots of highly valuable yet barren land,

00:07what's supposed to be the site of NVIDIA's new Taiwan office.

00:11The Taipei City government says is looking to end things with the current contract holder,

00:16Xinguang Life, citing reasons of store development.

00:30But officials' main concern seems to be TS Financial Holdings,

00:37created from the merger of Xinguang and Taixing Financial.

00:41To transfer land use rights from the current subsidiary to the new parent company,

00:45the two need to obtain written consent from the Taipei City government, which they have not.

00:50But TS Financial Holdings says is ready to talk.

01:00Some city councillors also question Xinguang Life's demand for a termination fee,

01:19a claim that Xinguang Life has firmly denied.

01:22The company says it originally asked NVIDIA for $350 million to compensate for its projected profits

01:29in a written agreement.

01:31But since that agreement expired in late September,

01:35NVIDIA won't need to pay Xinguang Life, nor will the city government be responsible for payment.

01:41Meanwhile, the deadline for a settlement looms.

01:44NVIDIA has asked the economy ministry to offer a list of alternative sites by October 24th.

01:50As other major cities bid to host the tech giant,

01:52the Taipei City government has also suggested a smaller plot of land nearby, known as T-12,

01:58and is determined to state NVIDIA's top choice.

02:01The answer has shown very clearly, it is that only the Chinese and the Taipei State government

02:07will be able to make the decision through the administration of the government.

02:11The government's position is very clearly, we will in all the effort to fight for Taipei

02:16and we will also be able to make this happen fully."

02:22Whether or not Taipei can make that happen before NVDA's deadline, the common goal is

02:26to find a home for the company in Taiwan, to secure the country's strategic role in

02:31the global chip industry.

02:32Leon Lian and Irene Lin for Taiwan Plus.

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