Total personal wealth in Taiwan is projected to grow at an average annual rate of about 6 percent from last year through 2029, reaching about NT$279 trillion (US$8.82 trillion), CTBC Bank senior vice president John Yang (楊子宏) told a news conference in Taipei. The expansion reflects Taiwan’s deepening role in the global technology supply chain, which has bolstered corporate earnings, equity valuations and private wealth, Yang said. Photo: CNA“Succession sits atop the list of concerns among high-net-worth individuals, both young and old,” Yang said. The number of high-net-worth individuals is forecast to climb from an estimated 123,000 last year to 155,000 by 2029, the study showed. About 74 percent of high-net-worth individuals hold overseas assets, while an additional 14 percent plan to invest abroad, it showed.

ASE unit purchases factory to expand assembly capacityStaff writer, with CNAASE Technology Holding Co (日月光投控) subsidiary Siliconware Precision Industries Co (SPIL, 矽品精密) has acquired factory buildings and attached equipment from solar energy developer United Renewable Energy Co (聯合再生) for about NT$2.8 billion (US$88.52 million). Photo: CNAIndustrial sources said that SPIL would use the space to expand its capacity to meet robust demand amid an artificial intelligence (AI) boom. ASE Technology is expecting an order backlog for AI-related advanced 3D chip-on-wafer-on-substrate (CoWoS) packaging services, industry sources said. The firm in January last year inaugurated a new plant in Taichung’s Tanzi Technology Industrial Park (潭子科技產業園區) to secure more CoWoS capacity. ASE Technology posted consolidated sales of NT$645.39 billion for last year, up 8.4 percent from a year earlier, company data showed.

Olympic medalist dies in Switzerland avalancheAP, BERN Olympic medalist dies in Switzerland avalancheSnowboarder Ueli Kestenholz, who won a bronze medal in the sport’s first Olympic race, died after being trapped in an avalanche, the Swiss ski federation said on Tuesday. Swiss snowboarder Ueli Kestenholz poses for a photograph at the Shiga Kogen ski resort in Japan on Feb. 9, 1998. The avalanche started at an altitude of 2,400m for unknown reasons, Valais police said in a statement. Recent posts on his Instagram account included film of Kestenholz paragliding and landing on frozen lakes near St. Moritz. “To enjoy those rare moments when nature‘s wonders align you need to be ready to drop everything and go!” he wrote.

Brentford’s Igor Thiago eyes FIFA World Cup berthAFP, LONDONBrentford striker Igor Thiago has already made English Premier League history: Now the Brazilian hopes to take his unlikely success story to the FIFA World Cup. Brentford’s Igor Thiago reacts during their English Premier League match against Tottenham Hotspur at the Gtech Community Stadium in London on Jan. 1. Gabriel Jesus, Richarlison, Philippe Coutinho, Juninho and Robinho are among the other Brazil forwards to have played in the Premier League. Thanks to Thiago’s scoring spree, Brentford have climbed to fifth place in the Premier League, sparking unexpected dreams of UEFA Champions League qualification. Already linked with a move to Premier League leaders Arsenal, he has been catapulted into contention for a place in Brazil’s World Cup squad.

Chloe Kim ‘good to go’ for Winter OlympicsAFP, LOS ANGELESUS snowboard star Chloe Kim on Tuesday said she would be fit to compete at next month’s Winter Olympics in Italy despite sustaining a shoulder injury last week. Kim revealed she had suffered a torn labrum in a training fall in Switzerland, and while she would not be able to train before the Olympics, she would be fit to compete. Gold medalist Chloe Kim of the US celebrates on the podium during the women’s halfpipe medal ceremony at the FIS Freestyle World Championships in St Moritz, Switzerland, on March 29 last year. Photo: ReutersThe snowboard star said her labrum injury was at the less serious end of the spectrum, allowing her to take part in the Olympics. The Milan-Cortina Olympics are to take place from Feb. 6 to 22.

Gilgeous-Alexander rescues ThunderMOTHER KNOWS BEST: Warriors’ coach Kerr said his 91-year-old mother criticized him for his attitude toward officials that led to his ejection from Monday’s game Shai Gilgeous-Alexander on Wednesday rescued the Oklahoma City Thunder with a game-tying buzzer-beater before finishing with 46 points in a 129-125 overtime victory against the Utah Jazz. The reigning NBA champions looked to be heading for a third straight loss after the Jazz inched into a 114-112 lead following Lauri Markkanen’s layup with just three seconds remaining in the fourth quarter. However, NBA Most Valuable Player Gilgeous-Alexander drained a superb 13-foot jump shot to tie it up at 114-114 as the buzzer sounded to send the game into overtime. Gilgeous-Alexander then took over in the extra period with nine points as the Western

Taiwanese golf contest included on JLPGA tourStaff writer, with CNAThe Taiwan Ladies Professional Golfers’ Association (TLPGA) and the Japan Ladies Professional Golfers’ Association (JLPGA) yesterday announced that this year’s Taiwan Foxconn Ladies Golf Tournament would be officially included as part of the JLPGA tour. It is the first time in 46 years the JLPGA has included an overseas event and would make Taiwan the only overseas stop on the tour this year. Japan-based Taiwanese golfer Wu Chia-yen, left, and Japanese golfer Yui Kawamoto pose for a photograph at a news conference yesterday. Photo: CNAJapanese golfer Yui Kawamoto and Japan-based Taiwanese golfer Wu Chia-yen attended a news conference announcing the development. The Taiwan Foxconn Ladies Golf Tournament is to be held from March 12 to 15 at the Orient Golf and Country Club in Taoyuan’s Gueishan District (龜山).

Tropical storm forming, cold air mass expectedBACK TO WINTER: A strong continental cold air mass would move south on Tuesday next week, bringing colder temperatures to northern and central TaiwanBy Lin Chih-yi / Staff reporterA tropical depression east of the Philippines could soon be upgraded to be the first tropical storm of this year, the Central Weather Administration (CWA) said yesterday, adding that the next cold air mass is forecast to arrive on Monday next week. CWA forecaster Cheng Jie-ren (鄭傑仁) said the first tropical depression of this year is over waters east of the Philippines, about 1,867km southeast of Oluanpi (鵝鑾鼻), and could strengthen into Tropical Storm Nokaen by early today. The system is moving slowly from northwest to north, and is expected to remain east of the Philippines with little chance of affecting Taiwan, Cheng said. On Tuesday, a strong continental cold air mass would move south, bringing colder temperatures to northern and central Taiwan and Yilan County, while southern Taiwan would experience cool mornings and evenings. From Wednesday onward, mornings and evenings would be chilly nationwide, with northern Taiwan and Yilan County being cold throughout the day, Cheng said.

Women’s group argues against surrogacy legalizationBy William Hetherington / Staff writer, with CNAThe Taipei Women’s Rescue Foundation on Monday argued against the legalization of surrogacy, saying that the procedure “treats women’s wombs as tools.”The foundation on social media said that “wombs should not be treated as tools or commodities for producing children for others,” and that it was necessary to “safeguard women’s reproductive autonomy and bodily autonomy.”Surrogacy would introduce risks of physical and psychological harm, it said. The Executive Yuan last month proposed amendments to the act, which includes granting married female couples and single women access to legal assisted reproductive services. However, the Taiwan People’s Party also proposed an amendment that would legalize surrogacy in addition to assisted reproductive treatment for married female couples and single women. The foundation said assisted reproductive technologies are different from surrogacy, which could lead to the exploitation of women, particularly those from disadvantaged backgrounds. The most common assisted reproductive techniques used in surrogacy are artificial insemination and in vitro fertilization, it said.

Interview: Trumpf expanding its Taiwan facilitiesSEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,By Lisa Wang

China’s trade surplus surges 20 percent to a record US$1.2 trillionAP, HONG KONGChina’s trade surplus surged to a record of almost US$1.2 trillion last year, the government said yesterday, as exports to other countries made up for slowing shipments to the US under US President Donald Trump’s onslaught of higher tariffs. The results came as China’s exports last month climbed 6.6 percent from the year before in US dollar terms, better than economists’ estimates and higher than November’s 5.9 percent year-on-year increase. For the whole of last year, China’s exports to the US fell 20 percent. “We expect domestic demand growth to stay tepid,” Rong said. With slow import growth, he expects China’s trade surplus to remain above US$1 trillion this year.

Indonesia needs to break the habit of living dangerouslyBy Karishma Vaswani / Bloomberg OpinionIndonesia’s first president, Sukarno, famously titled his 1964 independence day address Tahun vivere pericoloso — the year of living dangerously. The top-down governing style of Indonesian President Prabowo Subianto — a military man who was once Suharto’s son-in-law — risks compounding this uncertainty and deterring overseas investment. They also claim the process involved undisclosed conflicts of interest and improper gains of about 809 billion rupiah for Makarim. He denies all charges and has entered what is known in the Indonesian legal system as an objection plea, challenging the validity of the case. Previously, she was the BBC’s lead Asia presenter and worked for the BBC across Asia and South Asia for two decades.

Why was the reaction to political dissent so different this time? Illustration: Mountain PeopleAdding insult to injury, Iran is no longer able to prevent foreign actors from boosting popular discontent at home. Notably, Iran’s Islamic Revolutionary Guard Corps is filled with veterans of the Syria conflict. Could the US pursue a similar strategy against the Islamic republic? A total collapse of the Islamic republic is not necessarily imminent, but Iran’s revolution is now nearing its end.

Diplomacy potential of overseas groupsBy Wang Wen-sheng 王文勝Minister of Foreign Affairs Lin Chia-lung (林佳龍) recently said that NT$41.5 billion (US$1.31 billion) in diplomatic funding has been stalled, affecting many of Taiwan’s diplomatic initiatives. The Chinese Nationalist Party (KMT) has deliberately attempted to sabotage those efforts to prevent Taiwan’s diplomatic expansion, he said. Although Taiwan’s international status is relatively low, the Republic of China’s (ROC) visibility would be higher in the eyes of overseas communities. Pro-Beijing overseas groups and hometown associations are eager to gain access to the Republican Party. Amid the US’ broader shift to the right, pro-Beijing overseas communities are themselves eager to engage in “united front” work targeting the Republican Party.

MOFA welcomes Phoenix Mayor Kate Gallego to TaiwanBy Huang Ching-hsuan and Hollie Younger / Staff reporter, with staff writerPhoenix Mayor Kate Gallego yesterday said her city would continue deepening high-tech cooperation with Taiwan, as she arrived in Taiwan for a visit. Minister of Foreign Affairs Lin Chia-lung (林佳龍) welcomed Gallego and her delegation to Taiwan with a banquet. Phoenix would continue to work closely with Taiwan and deepen cooperation in high-tech industries to ensure supply chain resilience, particularly following Taiwan Semiconductor Manufacturing Co’s (TSMC) announcement of a US$165 billion US investment plan, Gallego said. Minister of Foreign Affairs Lin Chia-lung, center right, poses with Phoenix Mayor Kate Gallego, center left, and her delegation at a banquet in Taipei last night. This week marks the third time that Gallego has led a delegation to Taiwan, the Ministry of Foreign Affairs (MOFA) said.