Topco Group Chair J. W. Kuo tapped for economics minister｜Taiwan News

More Cabinet appointments have been unveiled. Taiwan’s next economics minister will be J. W. Kuo, the chair of Topco Group. Kuo has over three decades of experience in the semiconductor sector, and has expanded his business across the biotech, optoelectronics, and food industries. Observers note that his areas of expertise align with Lai Ching-te’s vision for Taiwan’s economy. Other appointees named on Tuesday include the heads of the National Development Council and Financial Supervisory Commission.

Three more appointments for Lai Ching-te’s Cabinet have been announced. Topco Group Chair J. W. Kuo has been named economics minister. Tasked with economic policy and managing utilities like water and power, Kuo will play a crucial role in national development.

Cho Jung-tai
Premier-designate
As minister, I will ask Kuo to leverage his expertise in the energy sector to ensure a stable power supply.

J. W. Kuo
Economics minister-designate
I have an acute awareness of the problem caused by the so-called “five shortages.” However, because I was just appointed today, I will take the time between now and May 20 – and afterward as well – to consult with friends and scholars. I will provide a full report to the public later on.

Kuo has worked for years in the semiconductor sector, which is Topco Scientific’s main business. He also has experience in biotechnology, optoelectronics and environmental protection. In 2012, he founded Anyo Group, venturing into fisheries, fresh produce retailing and restaurants.

J. W. Kuo (Nov. 25, 2023)
Economics minister-designate
We also deeply understand that the semiconductor industry will influence the direction of Taiwan’s economy for the next decade. We are extremely grateful for the path that our government and our president have laid down for Taiwan’s tech industry.

Kuo’s net worth stands at more than NT$10 billion. He’s a guest lecturer at National Taipei University. Observers have pointed out that his experience, which ranges from semiconductors to biotech and health, aligns with President-elect Lai Ching-te’s vision for Taiwan.

J. W. Kuo (March 5, 2024)
Economics minister-designate
TSMC is expanding across the globe, and we should be doing the same, expanding our global influence. AI is set to become an important driver for the semiconductor industry over the next 10 to 20 years.

Kuo wasn’t the only minister revealed. Premier-designate Cho Jung-tai announced that the National Development Council will be led by Paul Liu, the former chair of PricewaterhouseCoopers business Consulting Services Taiwan. The Financial Supervisory Commission will be headed by Peng Jin-lung, a professor at National Chengchi University’s Department of Risk Management and Insurance. The new head of the Public Construction Commission will be former Yilan Commissioner Chen Chin-te. Huang Yen-nun, a scholar at Academia Sinica’s Research Center for Information Technology Innovation, will take over as digital affairs minister. Southern Taiwan University of Science and Technology President Wu Cheng-wen will head the National Science and Technology Council.

Of the six new Cabinet members, five have no party affiliation. The appointment is seen as a move to achieve a non-partisan democratic coalition.

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