Kung Ming-hsin Appointed as Taiwan's New Economy Minister Amidst Semiconductor Sector Focus

In a significant political move, Taiwan's government is poised to appoint Kung Ming-hsin as its new economy minister, replacing his predecessor who resigned due to health concerns. Kung previously served as a board member for chipmaking giant TSMC under the representation of the National Development Fund.

The Taiwanese cabinet is yet to release an official statement, but speculation about Kung's appointment has been rife in local media throughout the past week. His new role is expected to focus on managing the island's indispensable semiconductor industry and shaping energy policy.

Key responsibilities of the ministry include regulating the export of sensitive high-tech goods to countries like China and Russia, and overseeing energy directives that are essential to Taiwan's economic stability and growth.

(With inputs from agencies.)