Vice presidential contenders clashed on Monday about TSMC’s foreign investments and whether investing in Taiwan was too risky due to China tensions. This drew the Taiwanese chipmaker into the election campaign conflict.
China, which claims Taiwan as its own territory, is conducting war simulations close to the island as part of its increased military push to bolster its claims, which coincides with the January 13 presidential and legislative elections.
On occasion, candidates will bring up Taiwan Semiconductor Manufacturing Co., the largest contract chipmaker in the world and the most significant corporation on the island. However, topics that have a greater impact on the industry, including water scarcity and power grid stability, are highlighted more regularly.
The vice presidential candidate for Taiwan’s major opposition party, the Kuomintang (KMT), Jaw Shaw-kong, stated during a live broadcast debate that Wall Street investors had approached him before he knew he was running for president and had inquired about the possibility of war.
Jaw claimed that tensions with China were the fault of the ruling Democratic Progressive Party (DPP) and stated, “Nobody will dare invest in Taiwan if there is not a peaceful environment.“
“Our TSMC desires to flee abroad. Taiwan plus one: one factory located in Taiwan and one located elsewhere, eroding our homeland.”
A request for comment from TSMC, which is developing plants in Germany, Arizona, Japan, and the US, was not immediately answered. Both the government and the company have stated time and time again that the majority of manufacturing, including that of the most cutting-edge chips, will remain in Taiwan.
Hsiao Bi-khim, the DPP‘s vice presidential candidate and a former prominent Taiwanese ambassador to the US, told Jaw that foreign investment had increased to record levels under the DPP’s leadership.
“TSMC represents Taiwan’s pride and ought not to be utilized for personal gain or political rivalry. “It is our sacred mountain guarding the nation,” she remarked, highlighting the significance of the corporation to the island’s economy with a phrase that is widely used in Taiwan.
Hsiao continued, “TSMC bases decisions about their global footprint on industry and customer needs.”
“We hope all Taiwanese businesses will have everyone’s blessing in the process of the global layout.”
