Extraordinary Endeavors in Turbulent Times: Asian Innovation, Inclusion, and Impact during COVID-19

ASIA BUSINESS COUNCIL HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY 4 5 Fubon Group (Taiwan) Extraordinary Endeavors in Turbulent Times Life, a first for Taiwan that offers daily hospitalization benefits as well as death benefits to beneficiaries, and the insurance plan for notifiable diseases launched by Fubon Insurance, also a first for Taiwan that provides protection and reimbursement for people in mandatory home quarantine. Finally, Fubon sees Southeast Asia as benefitting from lingering U.S.-China tensions and the resulting restructuring of the global supply chain, and is looking to extend its current operations in Singapore, Vietnam, and Indonesia, to other neighboring countries such as Malaysia and Cambodia. In doing so, Fubon will be following the footsteps of other Taiwanese companies. Conclusion To be sure, as much as 2020 has been the year of the coronavirus, for the island of Taiwan, U.S.-China tensions are seen to have an equally important, if not more important, effect on business, politics, and society. As companies like Fubon expand into Southeast Asia, experience-sharing on initiatives such as the Intelligent Electronic Fences System (IEFS), not just money and deals, will facilitate win-win partnerships and meaningful social impact. Indeed, by bringing the government and telecom carriers together to prevent and contain a public health crisis, it is fair to say that the IEFS is an example of public- private collaboration that has practical relevance well beyond the geographical boundaries of Taiwan. In fact, with an effective IEFS in place and a remarkably low number of COVID-19 cases in Taiwan, Lin is focused on building “the next star or stars in the company which would continue to power growth for the next five to ten years.”