Premier Cho Absent from Trust Awards Ceremony; FSC Chairperson Peng Advocates for Warmer Trust Services

The Financial Supervisory Commission (FSC) held the '2025 Trust Industry Promotion and Business Development Evaluation Awards Ceremony and Symposium' today (10th) at 2:00 PM. Premier Cho Jung-tai, originally scheduled to attend and deliver a speech, was notably absent. During his address, FSC Chairperson Peng Jin-long stated, 'At 1 PM, I received a message saying the Premier couldn't make it today due to an urgent schedule conflict.' This has sparked public speculation over whether the absence was linked to the recent toxic oil incident or rumors of resignations, including that of Health and Welfare Minister Shih Chong-liang.

Held annually in August at the Taiwan Academy of Banking and Finance, the Trust Industry Awards Ceremony traditionally sees chairpersons of state-owned financial institutions and FSC officials gathering at the academy's entrance before 2 PM to welcome the Premier. With Premier Cho's last-minute cancellation, the atmosphere at this year's event was significantly more subdued compared to previous years.

Chairperson Peng emphasized that this year's ceremony marks the first since the FSC released its strategic roadmap for trust business development. He congratulated all award-winning institutions and reaffirmed the FSC's strong commitment and full support for the advancement of trust services.

Trust's Role Shifts Toward a Human-Centered Approach

Peng noted that Taiwan will enter a super-aged society starting in 2025. Amid fundamental demographic shifts, drastic economic changes, and rising fraud risks, the role of trust services has evolved from being product-centric to human-centric. Trust is no longer merely a financial investment product but has become a crucial companion and support system accompanying individuals through life stages—from starting a family and building a career to retirement and wealth succession.

Advocating Lifelong Finance to Address Social Challenges

Peng stated that in the face of declining birthrates and aging populations, the financial sector must play a more proactive role. He emphasized that finance is no longer just an industry concern but a societal one. Beyond the ideal of sharing financial success with society for mutual benefit, he highlighted a crucial mission: 'The financial industry must take on the responsibility of solving social problems.' To this end, the FSC is promoting the concept of 'lifelong finance' as a core business philosophy.

The goal of lifelong finance is to build comprehensive financial services for all age groups throughout an individual's lifetime. From birth to end-of-life, it aims to provide tailored financial products and services that meet the needs of each life stage, continuously supporting and safeguarding clients' financial security.

Looking ahead, Peng expressed hope that trust institutions will continue to innovate and evolve with the times. He urged the industry to use trust services to protect people, making them warm, empathetic, and deeply connected to public needs. By reaching every citizen, trust can drive inclusive finance into every corner of society, making Taiwan more stable and resilient.