CEPD to release investment files for Yu Chang on Monday

Liu said that Premier Wu Den-yih has approved declassification of the documents concerning the NDF's investment in Yu Chang, and that the CEPD will move to release the documents to the Economic Committee of the Legislative Yuan after Wu's written approval on Monday.

The release of the “classified” files concerning NDF's investment in Yu Chang was recently requested by the Economic Committee of the Legislative Yuan so as to better know the whole story concerning Democratic Progressive Party (DPP) presidential candidate Tsai Ing-wen's previous investment in Yu Chang immediately after she stepped down as vice premier in May 2007.

It was Ho Mei-yueh, former CEPD minister and NDF convener, who sent “classified” documents on Feb. 15, 2007 to then vice premier Tsai Ing-wen and premier Su Tseng-chang, to the effect that the NDF would invest US$20 million in a new company able to partner with U.S. biotech giant Genentech.

Months after stepping down as vice premier, Tsai became chairwoman of the registered Yu Chang Biologics on Sept. 5, 2007. Critics cited the timeline as a violation of the Civil Servants Work Act, which prohibits civil servants from holding top positions at companies within three years of their resignation.

Tsai's family owned 20 percent stake in Yu Chang, but Tsai sold her stake after assuming the DPP leadership in 2008 after raking in profits of over NT$10 million, but lawmakers of the ruling Kuomintang claimed that Tsai received NT$100 million in profits.

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