Taipei-The Cabinet-level Ill-gotten Party Assets Settlement Committee (IGPASC) said Tuesday that it has determined that the Broadcasting Corporation of China (BCC) is affiliated with the opposition Kuomintang (KMT).
At a meeting that day, the IGPASC issued a ruling indicating that the BCC's assets valued at about NT$7.73 billion (US$249.35 million) were obtained by the KMT in an inappropriate way, and so belong to the state.
As a result, the commission will pursue a transfer of the assets to the state, the IGPASC said.
The assets include 13 parcels of land and buildings, such as the Treasure Palace, a luxury residential apartment block located on Ren'ai Road, Section 3 in downtown Taipei, the IGPASC said.
In response to the IGPASC decision, BCC Chairman Jaw Shaw-kong (???) said the ruling was not fair, as the company was responsible for passing critical information to secret agents during the Chinese civil war, as well as broadcasting to the enemy as a psychological tactic, so the BCC was granted assets by the government to achieve that goal.
Jaw said the BCC has made great contributions to the country.
The IGPASC was set up in August 2016 based on the Statute on Handling the Inappropriate Assets of Political Parties and their Affiliated Organizations, which was enacted by the Democratic Progressive Party-dominated Legislature in July that same year.
Under the law, most of the KMT's properties have been frozen pending investigations by the committee into the assets held by the veteran political party.
If the assets are determined to be "ill-gotten," they will be transferred to the state or returned to their rightful owners.
The BCC was founded as the Central Broadcasting System in Nanjing in 1928. Its name was changed to the BCC in 1947 before moving to Taiwan in 1949, when the KMT government fled to the island.
In December 2006, the BCC was sold to a group of four holding companies related to Jaw through the KMT-owned Hua Hsia Investment Holding Co.
Source: Focus Taiwan News Channel