Third-Phase Development of Hsinchu Science Park, Home to TSMC Headquarters, Approved After 38 Years in Taiwan

Part of the “Taiwan Silicon Valley Plan”
Expected to Create Around 140,000 Jobs in the Coming Years

Taiwanese media outlets, including China Times, reported on August 26 that the third-phase development plan for the Hsinchu Science Park in Taiwan, home to the headquarters of TSMC, the world’s largest semiconductor foundry, has passed the authorities' review for the first time in 38 years.

According to the reports, the Hsinchu County Government announced the previous day that, on August 6, the Central Government Land Acquisition Team had completed its review of the report on the public interest and necessity of the project submitted by the county government during its 309th meeting.

Yang Yuanke, head of Hsinchu County, stated that this marks the official beginning of the project, 38 years after the National Science and Technology Council defined the scope of the third-phase Hsinchu Science Park project in 1987.

Yang emphasized that, in line with the “Taiwan Silicon Valley Plan” proposed by President Lai Ching-te in December 2023 when he was a presidential candidate to strengthen Taiwan’s semiconductor capabilities, the project will provide industrial land and increase employment opportunities. He added that the urban planning review process would be completed as quickly as possible to facilitate land acquisition and development work.

The Hsinchu County Government explained that although the third-phase project had been delayed, there is high demand for industrial and public facility land due to its location within the science and technology industrial belt and its close connection to the Hsinchu Science Park.

Previously, in February last year, the Executive Yuan approved the “Taoyuan-Hsinchu-Miaoli Greater Silicon Valley Plan” by the National Development Council to strengthen Taiwan’s semiconductor industry.

The Executive Yuan announced plans to invest more than 100 billion New Taiwan dollars (approximately 4.5 trillion won) over four years until 2027 for the construction of new land for the science park, covering 1,605 hectares (16.05 million square meters), as part of the Taiwan Silicon Valley Plan. The Executive Yuan also projected that, over the next four years, the development of the park would generate 6 trillion New Taiwan dollars (about 273.5 trillion won) in production and create approximately 140,000 jobs.