As retail sales spike upward, new-style outlets and malls cater to millennial shoppers who want entertainment and Instagram-friendly backdrops more than bargain-basement prices. It’s a golden age for outlets and malls in Taiwan, with a number of brassy mega projects completed and more developments on the horizon. Despite the rapid growth of online retailing, people…
Regulating STOs could provide a new equity fundraising channel for startups, but questions remain about the utility of the new rules. Just a few years ago, some virtual currency advocates were suggesting that Taiwan could become a hub for all things crypto in Asia. Given the conservative nature of Taiwan’s financial industry, the thought of…
Internet-only banks could potentially serve a credit-strapped young demographic that prefers to bank online, but what will be the effect on an already saturated banking sector? Taiwan is overbanked. Its 37 banking institutions operate roughly 5,000 branches for a population of about 23 million people. Because the sector’s US$1.6 trillion in assets are spread among…
The competition for market share for mobile-wallet business is intensifying as consumers increasingly settle transactions with their smartphones. Taiwan’s convenience stores have always lived up to their name – with one exception. They refuse to take most debit or credit cards. Besides cash, for years the only way to pay at a convenience store was…
Is the preponderance of female executives due to the industry, the openness of Taiwanese society, or mere coincidence? For the first time, women are taking the top position as country head or general manager in nearly all of the operations of Western pharmaceutical companies in Taiwan. Women also tend to excel more broadly in those…
Younger Taiwanese have a very different approach to work than previous generations. Companies are looking for the best ways to adapt. Since the start of Taiwan’s manufacturing age half a century ago, the same ethos has permeated most companies’ corporate culture. Decision-making is concentrated at the top, absolute loyalty is expected from employees, and overtime…
Labor strife has been a rarity in Taiwan. Most unions have been organized within individual companies rather than across industries, limiting their power. And for years under the martial-law provisions that ended in 1987, strikes were prohibited altogether. Based on recent developments in the aviation industry, that labor tranquility can no longer be taken for…
More expatriate professionals are coming, but they are often confronted with red tape and a conservative corporate culture. California native Ryan Terribilini moved to Taipei over a year ago to set up his own fintech firm after he received a Taiwan Entrepreneur Visa, designed to streamline the process for foreigners starting businesses on the island….
Since starting operations in March 2017 after repeated delays, the Taoyuan Airport MRT line has quickly become popular among airline passengers. Riders have commended the service as convenient, safe, and punctual. Last year, the airport MRT carried an average of 63,000 passengers daily, 12.5% more than the 56,000 in 2017. The train served 34% of…
After a decade of discussion and planning, construction began last October on an MRT system for the northern Taiwan city of Taoyuan, starting with a 27.8-kilometer Green Line. At the groundbreaking ceremony, Taoyuan Mayor Cheng Wen-tsan hailed the event as reflecting the city’s “coming of age.” The first portion of the Green Line will be…
