A month after a magnitude 7.1 earthquake struck Kumamoto Prefecture in southwestern Japan, claiming 38 lives and damaging over 26,000 residences, Taiwan has mobilized substantial support for recovery efforts. The International Cooperation and Development Fund (ICDF), affiliated with Taiwan's Foreign Ministry, announced that a campaign initiated on the island raised more than 300 million New Taiwan dollars (approximately $9.4 million) for relief.

Taiwan Semiconductor Manufacturing Co. (TSMC), which operates a chip factory in Kumamoto, pledged 250 million yen ($1.6 million) and launched an employee fundraising campaign to aid community rebuilding.

Taiwan's generosity is well remembered in Japan, notably after the Great East Japan Earthquake in 2011, when Taiwan donated 25 billion yen (over $200 million at the time).

In the realm of technology and trade, the State Department highlighted the importance of creating a trusted tech ecosystem with partners like Japan and Taiwan, describing it as "not a slogan" and "no longer optional." This statement implicitly contrasts with initiatives such as the World Artificial Intelligence Cooperation Organization (WAICO), founded in Shanghai.

Tomohiro Takashima, executive vice president of the Japan External Trade Organization (JETRO), noted that a decade ago, Taiwanese tech startups favored destinations like the U.S., China, and Southeast Asia. However, recent trends indicate a strengthening of investments in like-minded countries sharing values and approaches.

The fifth annual Japan-Taiwan Innovation Summit, held recently in Osaka and Tokyo, focused on supply chain collaboration, reflecting the ongoing efforts to deepen ties.

Additional industry developments include YMTC's recent IPO filing to raise 33 billion yuan ($5 billion) for facility upgrades and R&D, and Samsung's balancing act between a $79 billion shareholder return plan and investments in artificial intelligence.

Notable remarks from the summit and related events emphasized the "longstanding, deep and profound friendship between Taiwan and Japan," and the sentiment that "all union members and Samsung employees, we are one family."

Sources