Taiwan appoints senior executive at TSMC supplier as new economy minister

Taiwan’s incoming premier announced on Tuesday he had appointed a senior executive from TSMC supplier Topco Scientific as economy minister, saying he would be tasked with resolving the persistent problem of stable power supplies.
Taiwan Semiconductor Manufacturing Co is the world’s largest contract chipmaker and the chip industry is the backbone of Taiwan’s export-dependent economy.
The economy ministry is key to overseeing development and approving overseas investments, as well as being in charge of power generation and supplies via utility Taipower.
Cho Jung-tai, who will not take over as premier until president-elect Lai Ching-te is inaugurated on May 20, told reporters the chairman of semiconductor material supplier Topco Group, J.W. Kuo, would be the economy minister, replacing Wang Mei-hua, a lawyer by training.
Cho lauded Kuo’s semiconductor background and his deep international experience with international supply chains, but said power supplies would be a top ask for the new minister.