Wang Yung-ching, founder of Taiwan's Formosa Plastic Group passed away on Oct. 15th. The company announced that his death would not influence Formosa's progress of the steel mill in Vietnam because the previous arrangement was done. However, some said that Formosa's management considered suspending the whole project within 2 years in response to global recession. However, this news is not confirmed yet so far.

Besides, the report said that Formosa's Vietnam steel mill focus on global market and Southeast Asian markets. Thus, this new project will not make strong impact in Taiwan local market.