Hsu Sheng-fa

Hsu Sheng-fa
Born	(1925-01-24) 24 January 1925 Taiwan
Died	17 April 2021(2021-04-17) (aged 96)
Occupation(s)	Entrepreneur, politician
Years active	1965–2021
Known for	Founder of Prince Motors and Cosmos Bank; member of the Legislative Yuan (1981–1990)

Hsu Sheng-fa (; born 24 January 1925, passed away 17 April 2021) was a prominent Taiwanese entrepreneur and political figure. He held a legislative seat in the Legislative Yuan representing the Kuomintang party from 1981 until 1990.

Life and career

Hsu was born in Taiwan during the period of Japanese rule in 1925. In 1965, he launched Prince Motors, which later became the official distributor for Suzuki Motors vehicles in Taiwan. Financial difficulties led the company to incur significant debts, resulting in the termination of approximately 1,000 workers in 2012, which triggered demonstrations outside its corporate offices.

In 1992, Hsu founded Cosmos Bank, which eventually evolved into KGI Bank. He divested 80% of his ownership stake in 2007 and subsequently stepped down as chairman. The following year, the Taipei District Prosecutors' Office initiated an inquiry into allegations of embezzlement involving Hsu.

During his political tenure from 1981 to 1990, Hsu was an active member of the Legislative Yuan under the Kuomintang banner. He also contributed to the party's leadership by serving on its Central Standing Committee and led the China National Federation of Industry as chairman. Additionally, he supported Lien Chan's presidential bid in 2000 and held a position within the Straits Exchange Foundation.

Hsu was father to three children: his son Hsu Sen-rong held the role of vice chairman at Cosmos Bank; his daughters, Hsu Juan-juan and Hsu Hsien-hsien, with the latter married to Eugene Wu.

He died at age 96 on 17 April 2021 at Shin Kong Wu Ho-Su Memorial Hospital located in Taipei.