TAIPEI (TVBS News) — Minister of Economic Affairs Wang Mei-hua reiterated on Tuesday (Oct. 24 ) the importance of key tech industries to Taiwan's economy, highlighting their significance to Taiwan's society.
Wang explained that the penalty for corporate espionage activities targeting key technologies and trade secrets has been increased.
Taiwan's prospering high-tech sector has drawn significant attention from mainland China, leading to an escalating trend of headhunting Taiwanese tech talent with lucrative job offers.
Last year, in response to this threat, Taiwan amended its National Security Act, imposing stricter penalties for the theft of business secrets related to crucial technologies.
In related news, Taiwan's industrial production index has experienced a continuous decline for 16 months.
Wang pointed out the recent decrease in stockpile across several sectors and increased demand in the AI industry chain have been observed.
Amid uncertainties in consumer behavior and high inflation affecting the global economic recovery, industry feedback suggests reduced negative news, ensuring room for potential growth in future quarters, Wang said.