Evergreen Group (長榮集團) chairman Chang Yung-fa (張榮發) was awarded a royal medal by the Netherlands on Sunday for his contribution to the world economy, becoming the first Taiwanese to receive the honor from the country.
Chang, who runs one of the world’s biggest shipping companies, was presented with the Commander of the Order of -Orange-Nassau by Rotterdam Mayor Ahmed Aboutaleb, on behalf of Queen Beatrix.
“I am determined,” Chang said at the award ceremony.
Photo: CNA
Chang, who is now in his 80s, founded the conglomerate in 1968 to offer shipping, transportation and related services. He now chairs a multinational corporation that owns more than 180 container ships and 60 passenger planes.
He said that more than 30 years ago, it was nearly an impossible task for Evergreen Marine Corp (長榮海運) to break into the European market, which was monopolized by the members of the Far Eastern Freight Conference.
However, Chang said, he did not back down in the face of competition, but instead overcame the obstacles and launched European operations in 1979 at the Port of Rotterdam — one of the world’s busiest container seaports.
At the presentation ceremony, Aboutaleb said the Evergreen conglomerate has played an integral role in boosting the economic development of Rotterdam and the rest of the world.
Chang presented Aboutaleb with a delicate piece of Taiwanese handicraft that featured a painting by Dutch artist Vincent van Gogh.
The Netherlands award follows similar honors granted to Chang by Belgium, France, Italy, Malaysia, Panama and the UK in recognition of his achievements in the field of marine transportation.
TARIFFS: The global ‘panic atmosphere remains strong,’ and foreign investors have continued to sell their holdings since the start of the year, the Ministry of Finance said The government yesterday authorized the activation of its NT$500 billion (US$15.15 billion) National Stabilization Fund (NSF) to prop up the local stock market after two days of sharp falls in reaction to US President Donald Trump’s new import tariffs. The Ministry of Finance said in a statement after the market close that the steering committee of the fund had been given the go-ahead to intervene in the market to bolster Taiwanese shares in a time of crisis. The fund has been authorized to use its assets “to carry out market stabilization tasks as appropriate to maintain the stability of Taiwan’s
STEEP DECLINE: Yesterday’s drop was the third-steepest in its history, the steepest being Monday’s drop in the wake of the tariff announcement on Wednesday last week Taiwanese stocks continued their heavy sell-off yesterday, as concerns over US tariffs and unwinding of leveraged bets weighed on the market. The benchmark TAIEX plunged 1,068.19 points, or 5.79 percent, to 17,391.76, notching the biggest drop among Asian peers as it hit a 15-month low. The decline came even after the government on late Tuesday authorized the NT$500 billion (US$15.2 billion) National Stabilization Fund (國安基金) to step in to buoy the market amid investors’ worries over tariffs imposed by US President Donald Trump. Yesterday’s decline was the third-steepest in its history, trailing only the declines of 2,065.87 points on Monday and
TARIFF CONCERNS: The chipmaker cited global uncertainty from US tariffs and a weakening economic outlook, but said its Singapore expansion remains on track Vanguard International Semiconductor Corp (世界先進), a foundry service provider specializing in producing power management and display driver chips, yesterday withdrew its full-year revenue projection of moderate growth for this year, as escalating US tariff tensions raised uncertainty and concern about a potential economic recession. The Hsinchu-based chipmaker in February said revenues this year would grow mildly from last year based on improving supply chain inventory levels and market demand. At the time, it also anticipated gradual quarter revenue growth. However, the US’ sweeping tariff policy has upended the industry’s supply chains and weakened economic prospects for the world economy, it said. “Now
An employment discrimination lawsuit against contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) might soon be expanded after a hearing in a federal court in San Jose, California, on Tuesday to add 15 plaintiffs to the case. According to a court document, the lawsuit, which was refiled in November last year as a form of a class action with 13 plaintiffs in California, wants to add 15 plaintiffs from Arizona, where TSMC is building up its wafer fab capacity. TSMC first committed between 2020 and last year to invest US$65 billion in three advanced wafer fabs in Arizona. It then pledged an
RSS