User:Vycl1994/Douglas Hsu

Douglas Hsu (born 24 August 1941) is a Taiwanese business executive.

Early life
Douglas Hsu was born in 1941, to business magnate Hsu You-hsiang and his second wife. Douglas Hsu attended the University of Notre Dame and graduated from Columbia University, with a master's degree in economics.

Career
Hsu took control of the Far Eastern Group upon his father's death. The FEG formed a business alliance with the Bank of Chongqing in 2009, securing a five-year loan with RMB4 billion.

Telecommunications
Under his leadership, FarEasTone began a joint venture with China Steel in 2000. FarEasTone's initial public offering on the Gretai Securities Market was announced in 2001. FarEasTone explored the utilization of General Packet Radio Service for use in 3G devices. After a merger between KG Telecom and FarEasTone, Hsu announced that FarEasTone would work with KG Telecom's former parent company NTT Docomo on the technology. FarEasTone opened on the Taiwan Stock Exchange in August 2005. Starting in 2007, FarEasTone partnered with Google to offer free email. In June 2007, FarEasTone bid for a regional WiMAX license, and launched 4G service with the technology in 2009. In April 2009, China Mobile agreed to buy a twelve percent stake in FarEasTone, although Chinese companies were forbidden by law to invest in large Taiwanese wireless companies. Despite Hsu strong support of the transaction and shareholder approval, the government did not make Taiwanese telecommunications open to China until the signing of an economic cooperation framework agreement in 2010. In October 2009, FarEasTone launched an app store called the S Mart.

Hsu also served as chairman of New Century InfoComm, jointly owned by FarEasTone and Singapore Telecom. New Century began service in August 2001, after five months of delay. In 2006, Hsu said that New Century InfoComm was exploring expansion to television. Hsu considered merging FarEasTone and New Century InfoComm in early 2007.

Retail
Far Eastern Department Stores acquired Pacific Sogo in late 2002, and Hsu named Chung Chin chairwoman of Sogo. With Sogo's license to operate in China, Far Eastern Department Stores announced expansion to Shanghai and Beijing in 2004. That same year, Ho stated that another subsidiary, A.mart, could merge with RT-Mart, a claimed denied by company president Charles Kruse. In January 2005, Hsu announced a membership card for use across Far Eastern Group businesses.

In 2006, the China Times reported that Wu Shu-jen had received Sogo vouchers from a number of people, including Hsu, in 2003. Sun Ta-chien alleged that Wu's husband, Chen Shui-bian, also used the vouchers. Hsu, Wu, and the Chen's family doctor, Huang Fang-yen were questioned in a subsequent investigation. In October 2006, Hsu was indicted on charges of bribery and breach of trust. Reports from Next Magazine continued to question Hsu's acquisition of Sogo through 2008. The Taipei District Court ruled on the case in August 2008, and acquitted Hsu of all charges. The Taiwan High Court upheld Hsu's acquittal in September 2010. Sogo's former owner continued to contest Hsu's ownership of the company via court action.

Banking
Far Eastern International Bank, founded in 1992 and owned by Hsu's Far Eastern Group, has explored several mergers. Discussions have been held with HSBC, among others. By mid-2007, Far Eastern International elected to raise funds, and considered expansion to China. Hsu stepped down as bank chairman in June 2008, in accordance with a law making it illegal for a bank chairman to hold equivalent positions at non-financial institutions. The next year, Far Eastern International Bank bought AIG Credit Card Company.

Construction and public projects
In August 2005, Hsu was appointed chairman of the Far Eastern Electronic Toll Collection Company, a joint operation between Far EasTone, TECO Electric and Machinery, Systex Corporation, and MiTAC. The company completed a cashless electronic toll collection system set to launch in January 2006. Introduction of the new system was delayed, as the Taipei High Administrative Court ruled in February 2006 that Far Eastern's bid had been disqualified. The Ministry of Transportation and Communications renegotiated the contract and Far Eastern continued work.

Asia Cement (China) Holdings Corporation, a subsidiary of Asia Cement Corporation owned by Hsu, made an initial public offering on the Hong Kong Stock Exchange in May 2008.

Political activity
In 1999, he commented on the influence of China on Taiwan's business leaders, regarding it as too large to ignore, but also politically uncertain. In 2001, he advised president Chen Shui-bian to lower tariffs on textiles and allow more investment from China into Taiwan's textile industry. Hsu reiterated this stance throughout Chen's administration. Hsu has served on multiple governmental trade delegations, which have been to Africa and Germany. He attended the 2005 World Forum and suggested later that year, that a minimum tax rate on businesses be set at five percent. He also attended the gathering in 2006.

Personal life
Hsu was elected to the board of the Chiang Ching-kuo Foundation in 2000. He is credited with helping Suntory expand to Taiwan. Hsu's former residence in Dinghao, Taipei, was redeveloped and opened in December 2002 as Bistro 98.