TAIPEI (Taiwan News) — Taipei City Mayor Chiang Wan-an (蔣萬安) has weighed in on the land rights dispute involving Shin Kong Life Insurance, which has stalled development plans for Nvidia’s headquarters in Taiwan.
Speaking to reporters on Friday, Chiang said Nvidia is consulting with the city government on other potential sites for its headquarters, reported CNA. The mayor said that if Shin Kong wants to continue negotiations for use of the T17 and T18 lots in the Beitou-Shilin Technological Park, it will have to terminate its agreement with Nvidia and renegotiate terms with the city.
On Thursday, Shin Kong said it still intends to cooperate with Nvidia on the development project. However, some reports indicate Shin Kong attempted to negotiate a settlement with Nvidia for NT$10 billion (US$350 million) to transfer the property rights for the two lots.
Chiang indicated that Taipei will not agree to a direct transfer of the land development rights from Shin Kong to Nvidia. Nvidia has reportedly asked for assistance from Taipei and the Ministry of Economic Affairs to help identify other locations for the headquarters, per UDN.
A major problem Shin Kong faces in negotiations is the merger of Taishin Financial Holdings and Shin Kong Financial Holdings, which was completed in July. The subsidiary integration of Shin Kong Life Insurance into the newly formed TS Financial Holdings is set to be completed in January 2026.
As Shin Kong Life Insurance and Shin Kong Bank will cease to be legal entities next year, Taipei is prepared to begin contract termination procedures to reclaim the disputed plots of land. Chiang added that Taipei has no plans to renew the land rights contract with the new entity established after the merger.
