TAIPEI (TVBS News) — Shin Kong Life Insurance Co., Ltd. (新光人壽) reached a mutual agreement Wednesday (Oct. 22) with Taipei City Government to terminate their land contract, unfreezing NVIDIA's Taiwan headquarters project. The decision clears the path for the American semiconductor giant's development in Beitou Shilin Technology Park (BSTP, 北投士林科學園區), Taiwan's premier technology hub. Taipei Mayor Chiang Wan-an (蔣萬安) confirmed the city's commitment to retaining NVIDIA in the capital, with alternative plans prepared for contingencies.
Shin Kong Life Chairman Wei Pao-sheng (魏寶生) received board authorization to terminate the land rights agreement, contingent on government cost reimbursement. The insurance company acquired 50-year development rights in 2021 but left the site undeveloped until NVIDIA's 2025 interest emerged. NVIDIA signed a memorandum of understanding with Shin Kong Life for direct rights transfer, but Taipei City Government opposed the arrangement.
Taipei City Government proposed mutual contract termination to reclaim land for NVIDIA transfer, but Shin Kong Life deemed compensation inadequate. The insurer suggested constructing a tower before transferring rights, while NVIDIA demanded development autonomy, creating an impasse. Premier Cho Jung-tai (卓榮泰), Taiwan's cabinet head, publicly endorsed retaining NVIDIA in Taiwan amid mounting political pressure. TS Financial Holding Co., Ltd. (台新金控) Chairman Thomas Wu (吳東亮) ultimately favored mutual termination and renegotiation under government pressure. ◼