Nvidia Taiwan HQ hurdle clears as Shin Kong Life agrees to relinquish Beitou plots

Taipei’s long-standing dispute over land designated for Nvidia Corp.’s new Taiwan headquarters appears to be nearing resolution. Shin Kong Life Insurance Co has agreed to relinquish its land-use rights to two key plots in the Beitou Shilin Technology Park, a move that clears the path for the US chipmaker’s expansion.

At a press conference on 22 October 2025 (Wed), Shin Kong Life Chairman Mark Wei confirmed that the company’s board had approved the termination of surface rights to the 3.89-hectare T17 and T18 plots. This decision, he stated, was made “for the greater good of the country,” and contingent on reimbursement by the Taipei City Government for incurred development costs.

The insurer had previously secured the rights to the land in 2021, intending to build a commercial complex. However, in May 2025, Nvidia and Shin Kong Life signed a memorandum of understanding under which Nvidia would assume the land rights and compensate the insurer. That deal lapsed earlier this month after Taipei officials rejected the direct transfer, citing legal concerns over potential profiteering.

Taipei Deputy Mayor Lee Ssu-chuan said the city would reimburse the insurer’s NT$3.3 billion (approximately US$102 million) lease payment, and a further NT$500 million to NT$800 million for development-related expenses. He added that the exact amount would be finalised after verification of design and preparatory work already carried out.

While declining to disclose specific figures, Wei said the company’s decision reflects its willingness to support Taiwan’s broader industrial goals. He also hinted that compensation received may be redirected to public-interest projects.

“We hope this move will help break the deadlock and keep Nvidia firmly rooted here, as it is crucial to Taiwan’s industrial development,” Wei said.

The standoff had emerged as a major hurdle to Nvidia’s regional expansion. The chipmaker, which already operates from a base in Taipei’s Neihu District, had identified the Beitou plots as its preferred location due to proximity to partners such as Taiwan Semiconductor Manufacturing Co (TSMC). Nvidia approached Shin Kong Life last year to acquire the rights.

After the initial plan to transfer those rights was rejected by the Taipei City Government, city officials called for a mutual termination instead. For months, Shin Kong Life resisted, citing shareholder obligations and potential financial loss. The insurer had even proposed constructing Nvidia’s headquarters itself, but that offer was declined.

The recent integration of Shin Kong Life’s operations into TS Financial Holding Co—formed through the merger of Shin Kong Financial Holding Co and Taishin Financial Holding Co—added further complexity. City officials delayed approving any agreements while reviewing the implications of the corporate restructuring.

Wei said the company notified both the city government and financial regulators before making its announcement public.

Taipei Mayor Chiang Wan-an welcomed the insurer’s decision, describing it as “an encouraging step” toward Nvidia’s expansion in the capital. He added that the city would inform Nvidia of the latest developments and begin negotiations on reimbursement immediately.

Minister of Economic Affairs Kung Ming-hsin confirmed on the same day that the ministry continues to support Nvidia’s office expansion in Taiwan. In parallel with resolving the Beitou issue, the government will present more than 10 alternative sites to Nvidia by 23 November.

Kung said that even sites not meeting all of Nvidia’s criteria would still be provided as references. The goal, he explained, is to offer the chipmaker maximum flexibility in its planning.

With Shin Kong Life’s decision to stand down and the city government’s willingness to cover prior costs, the final administrative hurdle for Nvidia’s Taiwan headquarters project may now be removed.

However, site selection remains ongoing, and the outcome of reimbursement negotiations will likely determine the speed of project initiation.