Wu Nai-jen Owes T$1.7 Billion to Taiwan Sugar, Wants to Pay T$50,000 Monthly? Media Analyst Uses Mortgage Example to Estimate He Could Only Afford a T$12 Million House

Wu Nai-jen, a prominent figure in the Democratic Progressive Party's New Tide faction and former chairman of Taiwan Sugar, was placed under asset seizure after causing over T$1.7 billion in losses by selling state-owned land at undervalued prices. Reports later emerged that Wu proposed a repayment plan of T$50,000 per month. In response, veteran media commentator Fan Ch'i-ming posted on Facebook, using a mortgage analogy: assuming a 30-year loan at an interest rate of approximately 2.2%, a monthly payment of T$50,000 could only finance a home priced between T$12 million and T$20 million. However, Wu owes Taiwan Sugar T$1.7 billion.

On the 10th, Taiwan Sugar's Deputy General Manager Tsai Tung-lin accompanied Economic Minister Kung Ming-hsin to the Legislative Yuan's Economic Committee, where they delivered a special report titled 'Review of Taiwan Sugar's Management Governance and Risk Control' and faced questioning. Tsai stated that the repayment terms proposed by Wu's side are unacceptable to Taiwan Sugar.

KMT legislator Wang Hung-wei questioned why Taiwan Sugar continues to negotiate leniently with Wu, urging immediate asset seizure, warning that failure to do so would constitute dereliction of duty. She also asked whether it was true that Wu proposed a T$50,000 monthly repayment plan during July negotiations. Hsiao Chi-yuan, Deputy Executive Director of Taiwan Sugar's Mass Retail Division, responded that the actual situation does not align with such claims. As negotiations are ongoing, he declined to disclose specific details of Wu's repayment plan.

Fan's post went viral, prompting widespread online mockery: 'If Wang Hung-wei hadn't exposed this, would Taiwan Sugar have ever considered applying for asset seizure? Definitely not.' Others sarcastically commented, 'I wish ordinary citizens could get loans under the same conditions.'

Additional exclusive reports from Storm Media: · Wu Nai-jen owes T$1.7 billion to Taiwan Sugar—'T$50,000 a month for 300 years'? Wang Hung-wei condemns it as absurd: 'Economic Ministry must stop covering up' · Wu Nai-jen owes T$1.7 billion, proposes T$50,000 monthly payment! Kuo Cheng-liang criticizes: 'If Ko Wen-je bans luxury, he shouldn't even take the high-speed rail' · Wu Nai-jen released after owing T$1.7 billion—was it his 'lawyer' who got him freed? Taiwan Sugar's illogical reasoning: 'Keeping him detained won't recover the money'—Legislators stunned: 'This is outrageous'