Reported 7 months ago
According to SET News on June 12, 2024, former chairman Wu Dongjin of Shin Kong Financial Holding has faced ongoing controversies, with one key aspect being investment losses that forced him to step down. Wu Dongjin suffered losses of nearly NT$6 billion due to a dinner meeting leading to heavy investments in the former stock king 'HTC'. The long-term poor performance of Shin Kong Financial Holding, dissatisfaction among shareholders, and regulatory scrutiny also contributed to Wu's downfall. His leadership failures led to a successful overthrow by reformists in 2023, with his brother Wu Dongliang playing a key role in the power shift.
Source: YAHOO