Taiwan Yuandong Group

The story of the Far Eastern Group begins not in Taiwan, but in mainland China, where founder Yu-Ziang Hsu established the business in 1937. Following the Chinese Civil War, the company relocated to Taiwan in 1949, re-establishing itself as Far Eastern Textiles. This textile business became the foundation for what would grow into a sprawling conglomerate. The initial playbook was focused. The company became a leader in spinning and weaving, creating a crucial link to Taiwan's growing economy. But as the nation developed, Hsu saw an opportunity to diversify. In 1957, the group made its first major expansion by establishing Asia Cement, recognizing that cement was a fundamental building block for urbanization and economic growth. This move set the precedent for the next several decades. The group methodically entered new sectors, including retail with Far Eastern Department Stores in 1967, financial services in 1978, and telecommunications in 1997. Rather than a high-risk, high-growth strategy, the company pursued calculated expansion, building a diversified portfolio that now spans ten major industries. Many of the group's core companies, such as Far Eastern New Century (the successor to the original textile company), Asia Cement, and Far EasTone Telecommunications, became publicly listed entities, solidifying their market positions. Today, under the leadership of Hsu's son, Douglas Hsu, the group continues to operate as one of Taiwan's largest and most enduring business empires.