TPP Questions National Development Fund Investment; Fund Claims Transparent Review Process

The Taiwan People's Party (TPP) pointed out today that during the time Su Qiao-chun, sister of DPP Legislator Su Chiao-hui, served as COO of 'Kuangshi Intelligence,' the company received nearly NT$20 million in investment from the National Development Fund, questioning whether there was a conflict of interest. The National Development Fund explained that Kuangshi Intelligence's application for the Startup Angel Investment Program was handled according to regulations, with external experts and scholars serving as review committee members and using a signed secret ballot system, ensuring a fair and transparent process. The TPP held a press conference stating that Su Qiao-chun had served as a director and COO of Kuangshi Intelligence since 2021, and that in November 2022, while her father Su Tseng-chang was Premier, the company received NT$19,999,000 in investment from the National Development Fund. They further noted that in 2023, the company received funding led by the National Development Fund and the Taiwan Business Bank, and in 2024, it received a NT$1.2 million subsidy from the Administration of Commerce, raising questions about conflict of interest. TPP Legislator Hung Yu-hsiang stated that under the 'Public Officials Conflict of Interest Avoidance Act,' the investment target should disclose information before the review, and demanded that the National Development Fund explain if this was done. He also questioned why the company received NT$19,999,000, just under the NT$20 million angel investment cap. The National Development Fund issued a six-point statement in the evening, emphasizing that Kuangshi Intelligence's application followed the Startup Angel Investment Program regulations, which support early-stage startups, and that there was no preferential treatment for specific individuals or families. They explained that the review was a fair process by experts and that the investment amount was based on a co-investment ratio with angel investors (0.96:1). Regarding concerns about the company's 'We-Stock' platform, they clarified that it was misused by third parties and the company itself was not indicted. The National Development Fund stated it would continue to implement post-investment management, including quarterly financial reports and site visits, to maintain the efficiency of public fund usage.