Asia Express - Consumer Electronics
Line to Invest in Taiwan for Nearly US$1 Billion
May 10, 2019

Line Corp. recently announced at a news conference held in Taipei that the company is set to invest in Taiwan in high potential areas such as Fintech, e-commerce, and digital content for NT$3 billion (US$ 1 billion; US$1 = NT$30.42), the Economic Daily News reported on May 8. In addition, Line plans to introduce new services in Taiwan over the next three years before launching elsewhere. The relatively high level of population density, coupled with transactional and service quality has made Taiwan an ideal testbed for Line’s new services. Currently, there are over six million users and 120,000 shops supporting Line Pay in Taiwan. In March this year, Line Financial, a subsidiary of Line Pay, invested NT$4.82 billion (US$158.6 million) in Financial Taiwan Corp. to develop the web-only banking service in Taiwan.