Taiwan Names Kung Ming-Hsin Economy Minister in Cabinet Shake-Up

Taiwan has appointed veteran policymaker Kung Ming-Hsin as the new minister of economy, according to the state-run Central News Agency. Kung will replace incumbent officials as part of a broader reshuffle of President Lai Ching-te’s cabinet after recent political setbacks. Kung previously headed Taiwan’s National Development Council, where he helped steer industrial policy and investment strategies aimed at strengthening the island’s high-tech supply chains. His elevation underscores the administration’s focus on sustaining economic growth and bolstering competitiveness amid slowing global demand and persistent geopolitical tension with Beijing. The cabinet shake-up is President Lai’s most significant since taking office, signaling an effort to reset economic priorities ahead of next year’s budget discussions and to shore up public support following defeats in several local elections.