Taiwan's New Economy Chief: A Tech Insider Takes the Helm

Taiwan has a new economy minister, and he's no stranger to the tech world. Kung Ming-hsin, who recently served as the cabinet secretary-general, has been tapped to lead the country's economic strategy. Before that, he was on the board of TSMC, the world's biggest chipmaker, representing the government's National Development Fund. Kung's new job is a big one. He'll be in charge of steering Taiwan's industrial, trade, and economic infrastructure. That means he'll have a say in the semiconductor sector, which is huge for Taiwan. He'll also oversee export controls to make sure sensitive tech doesn't end up in countries like China or Russia, and he'll handle energy policy. Kung is stepping into some big shoes. His predecessor, Kuo Jyh-huei, stepped down last week for health reasons. Kuo was also a tech insider, having worked as a senior executive at a TSMC supplier before becoming minister. But Kung's appointment isn't the only change in Taiwan's government. The cabinet is also reshuffling the health and digital affairs ministries. And get this, Taiwan's new sports minister will be Olympic badminton gold medallist Lee Yang. The sports ministry is set to be formally established next month. Taiwan's President Lai Ching-te has had a tough time lately. Opposition parties have been blocking legislation and passing their own, and they've been cutting budgets. Things got even tougher when large-scale recall votes against opposition lawmakers failed to remove any of them. Kung has his work cut out for him. He'll need to navigate these political challenges while also dealing with the complexities of Taiwan's economy. It's a big job, but Kung's background in tech and government might just give him the edge he needs.