NVIDIA’s Taiwan HQ deadlock saga may be coming to a close

NVIDIA’s long-stalled plan to build its headquarters in Taipei’s Beitou-Shilin Technology Park, mired for months in contractual and political disputes, saw a breakthrough on October 23.

Shin Kong Life Insurance Co. has agreed to give up its rights to two plots in the Beitou-Shilin Technology Park, potentially ending a land dispute that began in 2021 and paving the way for NVIDIA, the world’s most valuable chip designer, to build its Taiwan headquarters. But how did NVIDIA’s headquarters plan become mired in a years-long property dispute, and what finally brought the deadlock to an end?

NVIDIA planned to expand its footprint in Taiwan by building a major base in the Beitou-Shilin Technology Park in Taipei. The company targeted two land parcels, named T17 and T18, covering around 3.89 hectares. The plots are close to top tech talent and transportation links.

Taipei officials, including Mayor Wayne Chiang Wan-an (蔣萬安), welcomed the move. A local NVIDIA hub would strengthen Taiwan’s position in the global chip supply chain and trigger further investment.

However, the plan quickly ran into trouble.

Years earlier, the Taipei City Government had signed a deal with Shin Kong Life Insurance, one of Taiwan’s largest insurers, granting it rights to develop T17 and T18.

When NVIDIA showed interest in the plots, it ran up against Shin Kong's development rights to the land.

To resolve the conflict and clear the way for NVIDIA, the Taipei city government attempted to make Shin Kong Life Insurance dissolve its contract, triggering a legal and political dispute.

Shin Kong’s agreement with the government for the land was valid for 50 years. Years later, however, allegations arose that the company had held the land speculatively, waiting for its value to rise, and Taipei City Councilor Lin Yen-feng (林延鳳) accused Shin Kong of profiteering, Taiwan’s Central News Agency (CNA) reported.


Shin Kong and the piece of land 

On October 10, Taipei mayor Chiang Wan-an told reporters that he would not tolerate Shin Kong's inaction, noting that the previous contract would be terminated and that Taipei City Government would resume the land. Later, on October 22, he said that the Taipei City government would talk to Shin Kong since Shin Kong showed willingness and goodwill to agree to terminate the contract by mutual consensus.

For Shin Kong, however, the contract represents a valuable financial asset. Terminating it prematurely, or relinquishing rights without compensation, could undermine shareholder interests and even expose the insurer to charges of fiduciary breach.

Shin Kong has thus expressed willingness to directly transfer the land-use rights to NVIDIA, a proposal it argues could align with the company's needs while resolving the stalemate, though Taipei officials, including Deputy Mayor Lee Shu-chuan (李四川), insisted such a move would violate the contract.

On October 23, Shinkong published adverts in three major local newspapers stating it would not cling to T17 and T18, as long as the Taipei City Government reimburses its cost concerning the land over the years.

City Hall draws a red line

For the Taipei city government, a direct transfer would violate the spirit of the 2021 tender, disadvantaging other bidders and stoking accusations of favoritism. Instead, it has dispatched a mutual termination document to Shin Kong. Only after dissolving the contract, officials argue, can the land be legally reallocated—potentially to NVIDIA.

The 2021 tender was already shadowed by allegations concerning Shin Kong's close relationships with the then Taipei City Government, led by former mayor Ko Wen-je, of preferential terms and potential profiteering. Taipei City councilors from both the DPP and KMT have questioned how Shin Kong successfully got the land deal.

A direct transfer of the land to NVIDIA could prompt concerns about transparency and perceived favoritism. By first seeking to terminate the existing agreement, the Taipei City Government appears to be prioritizing procedural integrity, even if it risks tensions with a prominent financial institution.

On October 23, the city government said that it had, in principle, reached a consensus with Shin Kong.

Other options

In early October, Taiwan's Minister of Economic Affairs Kung Ming-hsin (龔明鑫) confirmed that NVIDIA had formally requested alternative sites, with a response due by October 24. Options under review included parcels near Songshan Airport and other lots, although Kung, while responding to legislators from the opposition party, said that MOEA was asked not to disclose certain terms and details.

The MOEA has the dual imperative of safeguarding Taiwan's attractiveness to foreign investors while respecting Taipei City's jurisdiction. 


Onwards

The impasse highlights a recurring challenge in Taiwan's political economy. While the island has actively sought to attract foreign technology firms, administrative complexity, overlapping responsibilities, and the influence of established domestic conglomerates can sometimes hinder follow-through. NVIDIA's roadblock reflects these underlying dynamics.

If Taipei can reclaim control of T17 and T18 and transfer the land to NVIDIA through a transparent process, it could demonstrate effective regulatory governance while also facilitating a significant foreign investment.