Yes, I believe that the next two years will be a subdued period for the industry. But I also believe that Taiwan is one of the few major industrial ecosystems in the world that can rely on the business integration to prepare for opportunities coming its way.

The US announced a series of new rules expanding the export restriction on China on October 7, including a ban on advanced chips used for high-performance computing (HPC) applications such as artificial intelligence (AI), creating even more uncertainties for semiconductor industry firms which are already busy dealing with declining demand in a cyclical downturn.

Successfully averting the crisis of automotive chip shortages, Hyundai Motor Group leapt to the world’s 3rd-largest automaker by sales volume in the first half of 2022, up from 5th in 2010 and 10th in 2000. The Korean auto giant is set to carry out multiple investment projects in new fields in the years ahead, looking to further strengthen its competitiveness and meet challenges and opportunities associated with the US Inflation Reduction Act (IRA).