Former Financial Supervisory Commission (FSC) chairman Kong Jaw-sheng (龔照勝) died of a heart attack on Friday night, aged 61.
Kong suffered a myocardial infarction and fell into a coma while having dinner with friends. Emergency treatment by a doctor who happened to be in the same restaurant failed to save his life.
Kong chaired the nation’s top financial regulator from 2004 to 2006 under then-president Chen Shui-bian (陳水扁) of the Democratic Progressive Party.
Photo: Liu Hsin-de, Taipei Times
Chinese Nationalist Party (KMT) Legislator-at-large and former FSC chairman William Tseng (曾銘宗) said he was stunned by Kong’s death.
Kung seemed to be in good health and regularly took part in outdoor activities, such as mountain climbing, Tseng said, adding that he was an easygoing person.
As the first chairman of the FSC, Kong made tremendous contributions to the commission, Tseng said.
Kong played a critical role in setting up a monitoring system for the local financial market as he had a thorough understanding of international financial markets, Tseng added.
Kong used to work for foreign banks operating in Taiwan, such as Credit Suisse First Boston.
Tseng said that Kong’s English proficiency and experience of foreign banking made him capable of heading the commission.
During his term as FSC chairman, Kong often led delegations overseas, helping Taiwanese financial institutions navigate foreign markets, Tseng said, adding that Kong’s presence had boosted the global visibility of Taiwan’s capital market.
The FSC was established in July 2004 and is responsibile for supervising banking, securities and insurance markets in Taiwan.
Tseng said that, as the head of the commission, Kong always listened to the opinions of local financial firms, adding that during his tenure, the nation’s financial market remained stable.
FSC Vice Chairman Huang Tien-mu (黃天牧) said that Kong was a good supervisor who took care of his colleagues in the commission and was respected by his subordinates.
In 2006, Kung was charged by prosecutors with alleged involvement in three corruption scandals while he served as chairman of state-owned Taiwan Sugar Corp (Taisugar, 台糖) in 2003.
He was later acquitted, but was impeached by the Control Yuan, a branch of government responsible for ensuring ethical conduct on the part of officials.
The Thai government on Friday announced that Taiwanese would be allowed to stay in the country for up to 60 days per entry, under the Southeast Asian country’s visa-free program starting from today. Taiwan is among 93 countries included in the Thai visa-waiver program, which has been expanded from 57 countries, with the visa-exempt entry extended from 30 to 60 days. After taking office last year, Thai Prime Minister Srettha Thavisin has vowed to grant more visa waivers to foreign travelers as part of efforts to stimulate tourism. The expanded visa-waiver program was on Friday signed by Thai Minister of the Interior Anutin
BAIL APPEALS: The former vice premier was ordered to be held incommunicado despite twice being granted bail and paying a total of NT$12 million in bond The Taoyuan District Court yesterday ordered the detention of former vice premier Cheng Wen-tsan (鄭文燦), who is being investigated for alleged corruption while serving as Taoyuan mayor from December 2014 to December 2022, and that he be held incommunicado. The court made the ruling during a bail hearing after prosecutors appealed its bail ruling twice. Cheng on Saturday was released after posting bail of NT$5 million (US$153,818). However, after prosecutors lodged an appeal, the High Court on Monday revoked the original ruling and ordered the Taoyuan District Court to hold another bail hearing. On Tuesday, the district court granted bail to Cheng a second
PEACE AND SECURITY: China’s military ambitions present ‘the greatest strategic challenge to Japan and the world, Japan’s annual defense white paper said yesterday Japan yesterday warned that China risked escalating tensions with Taiwan with an increase in military exercises that appeared aimed in part at readying Beijing’s forces for a possible invasion. Japan’s annual assessment of security threats, including those posed by China, North Korea and Russia, comes as Taiwan closely monitors Chinese People’s Liberation Army air and sea exercises, including one with the Shandong aircraft carrier in the Pacific Ocean. The drills are the latest in a series including maneuvers in the Taiwan Strait last year that a senior US general said would be key to any invasion. “Because of that increase in military activity,
SECURITY CONCERNS: An FBI agent said it was surprising that the shooter, whose motive remains unknown, was able to open fire before the Secret Service killed him On the heels of an apparent attempt to kill him, former US president Donald Trump yesterday called for unity and resilience as shocked leaders across the political divide recoiled from the shooting that left him injured, but “fine,” and the shooter and a rally-goer dead. The presumptive Republican presidential nominee said the upper part of his right ear was pierced in the shooting His aides said he was in “great spirits” and doing well. “I knew immediately that something was wrong in that I heard a whizzing sound, shots, and immediately felt the bullet ripping through the skin. Much bleeding took place,” he