Thursday, October 16, 2008

Wang Yung-ching Passed Away

Wang Yung-chingOct. 16, according to Taiwan TVBS reported that Mr. Wang Yung-ching died at age 93 in New Jersey. Tonight he will be transported back to Taiwan by EVA Air.

It is reported that because worried about the U.S. financial turmoil impact on the Taiwan, Oct. 11, Wang Yung-ching went to the United States to inspect its production line and the plants with his wife and children. But in the morning of 15, Wang Yung-ching was taken to a hospital in New Jersey, then died due to heart and lung failure at 9:38.

Wang Yung-ching (18 January 1917 – 15 October 2008) also known as YC Wang, was an influential entrepreneur who founded a large chemical business empire in Taiwan. According to the 2008 Forbes survey, he was the 178th richest person in the world with an estimated net worth of US$5.5 billion. He was born in Hsintien township, Taiwan. Despite lacking any formal schooling beyond elementary school, he is currently ranked 2nd in the Forbes list of Taiwan's Richest.

Wang served as the chairman of the board of Formosa Plastics Corporation, one of the largest plastic manufacturers in the world, until June 2006, when he stepped down at the age of 89. He remained chairman of the boards of Nan Ya Plastics Corporation, Formosa Chemistry & Fibre Corporation, and Cyma Plywood & Lumber Co. Ltd, but indicated his intention to gradually resign from these positions as well before his death. He was chairman of Ming-chi Institute of Technology, Chang Gung Memorial Hospital, and Chang Gung University. He had been a vocal supporter of the Three Links between Taiwan and mainland China.

Originally Posted: China Business Daily
Author: Angulo Fu