TAIPEI (Taiwan News) — Shin Kong Life Insurance is seeking approximately NT$4 billion (US$130 million) in termination fees for two Taipei parcels Nvidia selected for its Taiwan headquarters, with the city covering the payout and Nvidia expected to absorb additional costs.
Taipei Mayor Chiang Wan-an (蔣萬安) confirmed Wednesday that Nvidia’s new headquarters will be located on plots T17 and T18 in the Beitou-Shilin Technology Park, and that the city will soon reach a contract termination agreement with Shin Kong Life, per Liberty Times. Deputy Mayor Lee Shu-chuan (李四川) said the city has asked the insurance firm to submit its cost breakdown this week so that both sides can meet next week to discuss the termination fee.
Shin Kong Life on Wednesday said that it is organizing expenditure receipts and will provide documentation for reimbursement. The city said the insurance firm has already paid a NT$2.993 billion concession fee, NT$280 million in rent, and a NT$360 million performance bond, totaling NT$3.638 billion.
Of this, the actual amount paid in cash or cleared funds is roughly NT$3.2 billion, with non-cash payments such as NT$300 million in checks excluded. Shin Kong Life submitted this cost structure to the city government on Thursday afternoon.
The company also included additional costs, such as design fees, monitoring fees, project management fees, and contract-stipulated taxes, estimated at NT$800 million.
City officials said the talks were preliminary staff-level consultations to review Shin Kong Life’s costs. The company is still compiling detailed documentation, and another meeting will be arranged once that is complete.
Officials expect a definitive termination figure next week, which could then be submitted to the city council for approval in mid-November. The payout would be initially covered by the Equalization of Land Rights Fund, with contract termination expected by the end of November.
The city said that additional expenses, such as the NT$800 million, will ultimately be absorbed by Nvidia.
