TW Biz News｜WK 09/01 - 09/07

Every week, we'll select Taiwan's five business news from the previous week for your review.

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• 〔Focus Taiwan〕Taiwan, Japan to launch cross border ETF listings this month

Taipei, Sept. 3 (CNA) Taiwan and Japan will kick off a series of cross border listings of exchange-traded funds (ETFs) this month, a milestone for the internationalization of the local ETF market, the Taiwan Stock Exchange (TWSE) said Wednesday. In a statement, the TWSE said the cross border ETF listings between Taiwan and Japan are expected to boost the local capital market's visibility internationally and serve as a key for Taiwan becoming an asset management hub in the region.

• 〔Focus Taiwan〕Taiwan ranks No. 3 in ratio of R&D spending to GDP in 2023

Taipei, Aug. 30 (CNA) Taiwan ranked third worldwide in research and development (R&D) spending as a share of gross domestic product (GDP) in 2023, with a ratio of 4 percent, trailing only Israel's 6.3 percent and South Korea's 5.0 percent, according to the Ministry of Economic Affairs (MOEA). In a report released Friday, the MOEA said that Taiwan's R&D spending reached NT$937.3 billion (US$30.63 billion) in 2023, up from NT$898.0 billion in 2022. Companies in the computer, electronics, and optoelectronics industries accounted for 78.1 percent of the total, driven by demand for emerging technologies amid the artificial intelligence boom.

• 〔Focus Taiwan〕Cultural campaign in Europe raises Taiwan's profile: Official

Taipei, Sept. 7 (CNA) The government-initiated "Taiwan Culture in Europe 2025" campaign, which will showcase performing arts groups and national treasures in Europe, aims to present Taiwan's success as a democracy through culture, Deputy Foreign Minister François Wu (吳志中) said. The campaign, jointly organized by the Ministry of Foreign Affairs and the Ministry of Culture earlier this year, will bring more than 70 cultural events to 26 countries, Wu said during a recent interview with CNA.He noted that these events include an upcoming exhibition of "Jadeite cabbage with insects" and other iconic treasures from the National Palace Museum that runs from Sept. 11 to Dec. 31 at the Czech National Museum in Prague.

• 〔Focus Taiwan〕TSMC Dresden fab spurs Germany's 1st English vocational school

Berlin, Sept. 5 (CNA) Germany is preparing to open its first public vocational school with all instruction in English to train a skilled workforce for a Taiwan Semiconductor Manufacturing Co. (TSMC) fab under construction in Dresden, expected to begin operations in 2027. The Saxony state government and the local Chamber of Industry and Commerce are working on the project, Saxony's Minister of Education Conrad Clemens told Handelsblatt, a Germany-language business newspaper published in Düsseldorf. Around 5,000 technical positions are expected to be needed once the fab of the world's largest contract chipmaker is completed.

• 〔Taiwan News〕Shin Kong Mitsukoshi opens new Tainan outlet

TAIPEI (Taiwan News) — Shin Kong Mitsukoshi opened its new branch in Tainan’s North District on Friday. The outlet is the retailer’s third store in Tainan and 16th nationwide, per CNA. The company has set a revenue target of NT$3 billion (US$98 million) and aims to push its share of the city’s department store market to 60%. Shin Kong Mitsukoshi said the 36,000-square-meter branch will feature 200 brands, 60 of which are debuting in Tainan. Its offerings span restaurants, fashion, luxury cosmetics, and a high-end supermarket, making it more than just a shopping destination.