Taipei Mayor Accused of Favoring Insurance Giant Over Billionaire NBA Owner in Land Deal

Former Taipei mayor and current chairman of the Taiwan People’s Party, Ko Wen-je, is facing accusations of corruption during his time in office. The allegations revolve around multiple land deals, including one involving the Northside Science and Technology Park (Northside Sci-Tech Park), where Ko’s administration is accused of unfairly favoring a local insurance company, Shin Kong Life Insurance, over a potential Hong Kong-based bidder. The Hong Kong firm, Ubiquitous, was reportedly interested in bidding on a plot of land within the Northside Sci-Tech Park but was allegedly discouraged by the Taipei government. Ubiquitous, founded by Robert Pera, owner of the NBA’s Memphis Grizzlies, is a company valued at over NT$500 billion. The Taipei City Council member, Lin Yen-feng, believes that Ko’s administration, in prioritizing Shin Kong Life Insurance’s bid over Ubiquitous, may have been influenced by personal connections or political motivations. The decision to favor Shin Kong Life Insurance over a well-established and lucrative company like Ubiquitous has raised eyebrows, leading to accusations of corruption and misuse of power.