Despite local opposition from environmentalists, the industry continues to thrive based on low oil prices and expansion abroad. Cancellation of the Kuokuang petrochemical complex project in 2011 was a watershed in Taiwan’s industrial and environmental history. Touted as the largest investment in petrochemicals in decades – the estimated cost was over NT$600 billion (around US$20…

Formosa Plastics Corp.’s president Lin Chen-jung resigned on July 27 in the wake of a bribery scandal that caused another 24 executives at the firm to be fired and subject to criminal investigation. The allegations span seven years and involve kickbacks paid by suppliers. Formosa Plastics Corp. is the flagship company of the sprawling Formosa…