> ## Content Index > Fetch the complete content index at: https://www.sotkn.com/llms.txt > Use this file to discover other available public pages before exploring further. # Land Isn't Slots: Who Gets Paid When Chiayi Opens Packaging Land - URL: https://www.sotkn.com/markets/taiwan/taiwan-chiayi-packaging-land-october-2026/ - Published: 2026-10-03T02:26:59.000Z - Updated: 2026-10-03T02:27:54.000Z - Description: October 2026 in one line: NSTC put Chiayi Science Park's Phase II expansion (~198 ha, press-reported) out for public comment — who gets paid is build-out vendors and eventual packaging-slot owners; the stuck step is still CoWoS slots, not hectares on a form. - Author: Sean - Tags: #market-taiwan *Taiwan’s National Science and Technology Council put Chiayi Science Park’s Phase II expansion out for public comment on 23 Sep 2026 — a land gate for more advanced-packaging and related high-tech industry space on roughly 198 hectares (press-reported). Who gets paid if it clears is construction, utilities, and tool vendors on the build-out, then packaging-slot owners later. The stuck step is still CoWoS-class packaging slots: hectares on a consultation form do not print working packages.* **TAIWAN PULSE** · Data as at 3 Oct 2026 · Next update: after Chiayi comment close (\~24 Oct) or TSMC Sep revenue **Affects:** [Semiconductors](https://www.sotkn.com/stack/semiconductors/) · [Hyperscalers](https://www.sotkn.com/stack/hyperscalers/) · [Neoclouds](https://www.sotkn.com/stack/neoclouds/) — Markets: [Taiwan](https://www.sotkn.com/markets/taiwan/) · [Korea](https://www.sotkn.com/markets/korea/) · [US](https://www.sotkn.com/markets/us/) · [China](https://www.sotkn.com/markets/china/) **In short:** This is a land-and-consultation print, not a capacity-slot print. NSTC (23 Sep 2026) opened Chiayi Park Phase II expansion to public comment; the attached pack positions heterogeneous packaging, silicon photonics, AI, and related industries on Taiwan Sugar land north of Phase II under a lease model. Press puts the area near 198–198.65 ha and the comment window close near 24 Oct. Liberty Times supply-chain sources (via Taipei Times) say TSMC wants five more advanced packaging plants at Chiayi (toward 10 total) — that plant count is not an NSTC confirmation. Parallel overflow: MOEA BIP framed SPIL’s NT$100bn Yunlin CoWoS plant (ops 2028). Our arithmetic: land and a Google Form are a gate, not a yield. Map of who gets paid — not a buy list. Education only, not advice to buy or sell any security. Area and plant-count figures from press are labelled as reported. Company and NSTC primary documents are cited where dated. ### The numbers that matter this month NSTC Chiayi expansion notice 23 Sep 2026 Southern Taiwan Science Park Bureau · Phase II expansion (二期擴大) public comment Primary Expansion area (press-reported) \~198–198.65 ha Taipei Times 198.65 ha · UDN \~198 ha (President Lai) — not in NSTC PDF body we extracted Reported Land model (NSTC PDF) Lease (台糖) Expands Phase II using Taiwan Sugar land to the north Primary Comment close (press) \~24 Oct 2026 Then feasibility → Executive Yuan → urban plan / EIA path (press) Clock Reported Chiayi AP path (Liberty Times) +5 → 10 plants Supply-chain sources via Taipei Times — not NSTC confirmation Secondary CoWoS packaging slots Still the bind Land consultation ≠ working package yields Stuck step SPIL Yunlin CoWoS (MOEA BIP) NT$100bn · 2028 \~6 ha · 2,200 jobs · overflow packager frame (22 Sep English) Support Sources: NSTC notice + PDF, 23 Sep 2026; Taipei Times, 28 Sep 2026; UDN (Lai remarks); MOEA BIP English, 22 Sep 2026\. Status chips are Second Order’s read. **On this page:** [Why Taiwan?](#why-taiwan) · [What changed](#what-changed) · [Our math](#our-math) · [Where money sticks](#money-sticks) · [Is CoWoS still stuck?](#still-stuck) · [Dates next](#dates) · [How this differs](#different) · [What would change this](#change-view) · [FAQ](#faq) ## Why does Taiwan matter now? Because two of the steps that decide how many AI accelerators reach a data centre still sit mostly in Taiwan: leading-edge logic wafers and advanced packaging that joins those dies to high-bandwidth memory. Land notices matter only when they change how fast those stuck steps can add working capacity. That is the same map as the gold [TSMC revenue / CoWoS Pulse](https://www.sotkn.com/markets/taiwan/taiwan-tsmc-revenue-september-2026/) and [CoWoS, explained](https://www.sotkn.com/explained/cowos-explained/). Chiayi is already described in the NSTC pack as a base for advanced packaging plant space. The fresh question this month is not “does Taiwan package AI chips?” — it is whether a new land consultation moves money to the build-out before slots actually open. 1 · Land + utilities build-out **Who:** STSP / contractors / water-power vendors **Paid:** Paid if consultation clears and construction starts Paying (conditional) 2 · CoWoS-class packaging slots **Who:** TSMC primary; ASE / SPIL overflow **Paid:** Still sets who ships on time — land ≠ yields Stuck step 3 · Leading-edge wafers **Who:** TSMC **Paid:** Still scarce, but not this Pulse’s land trigger Neighbour scarce 4 · HBM stacks **Who:** Mostly Korea **Paid:** Neighbour door — see Korea capacity-mix Pulse Neighbour gate Chain is Second Order’s map. Neighbours: [Semiconductors stack](https://www.sotkn.com/stack/semiconductors/) · [CoWoS explained](https://www.sotkn.com/explained/cowos-explained/) · [Korea HBM DRAM capacity-mix Pulse](https://www.sotkn.com/markets/korea/korea-hbm-dram-capacity-mix-september-2026/) · [Where does the stuck step move?](https://www.sotkn.com/analysis/where-does-the-stuck-step-move/). ## What changed The fresh primary print is dated [23 Sep 2026 on NSTC](https://www.nstc.gov.tw/folksonomy/detail/73a545ea-eb37-4076-8564-6e1ae68aca19?l=ch&ref=sotkn.com). The Southern Taiwan Science Park Bureau posted Chiayi Park’s Phase II expansion (嘉義園區擴建計畫／二期擴大) for public comment under the science-park new-and-expansion operating rules, with an [information pack (PDF)](https://www.nstc.gov.tw/nstc/attachments/5d556935-237a-4230-ad54-40d35ddc6528?ref=sotkn.com) attached. What the pack actually says, in plain English: the expansion continues a Southern “new silicon valley” and semiconductor S-corridor push; Chiayi Phase II was already approved earlier and is framed as an advanced packaging plant base; the new work expands that Phase II footprint using Taiwan Sugar land to the north; industry targets include AI, heterogeneous packaging, silicon photonics, next-gen communications, quantum, net-zero, and related tech; land is to be leased; water, power, and wastewater need cross-agency coordination. What the pack does not say in the body we extracted: an exact hectare total, a TSMC plant count, or a guaranteed CoWoS wafer-per-month figure. Those numbers come from press. - NSTC (23 Sep 2026): Chiayi Phase II expansion opened to public comment - NSTC PDF: heterogeneous packaging + AI-related industry positioning; 台糖 lease land north of Phase II - Taipei Times (28 Sep): area estimated \~198.65 ha; comment period about one month - UDN: President Lai cites NSTC notice — Chiayi Phase II to expand \~198 ha - Liberty Times sources via Taipei Times: TSMC intends +5 AP plants at Chiayi (toward 10) — secondary - MOEA BIP (22 Sep English): SPIL NT$100bn Yunlin CoWoS, 2,200 jobs, ops 2028 — supporting overflow ![Chart: Chiayi ~198–198.65 ha expansion to consultation; lease model; ~24 Oct close (press); land does not auto-print CoWoS slots.](https://storage.ghost.io/c/cd/10/cd10e222-131f-4ba4-b4a9-ca4214e8c12d/content/images/2026/10/taiwan-chiayi-packaging-land-october-2026-hectares-1.png) NSTC 23 Sep 2026; Taipei Times / UDN area figures. Education only. Same-week English framing of the TSMC angle: [Taipei Times (28 Sep 2026)](https://www.taipeitimes.com/News/front/archives/2026/09/28/2003864999?ref=sotkn.com) reported Liberty Times supply-chain sources saying TSMC wants five more advanced packaging plants at Chiayi; if realized, the park would host ten, with Phase II’s three plants targeted for completion by 2031 and Phase I already in mass production. Treat that as reported intent, not an NSTC timetable. Parallel overflow packager (not the Chiayi land trigger): [MOEA Bureau of Industrial Parks (22 Sep 2026)](https://www.moea.gov.tw/MNS/English/news/News.aspx?kind=6&menu%5Fid=176&news%5Fid=124044&ref=sotkn.com) published an English release on SPIL’s NT$100 billion Yunlin Industrial Park CoWoS plant (\~6 hectares, 2,200 jobs, operations in 2028). [Focus Taiwan / CNA](https://focustaiwan.tw/business/202608120005?ref=sotkn.com) dated the groundbreaking 11 Aug 2026; the MOEA English text says 11 Sep — we treat the CNA ceremony date as August and the Sep 22 piece as the official BIP investment frame. ## Our math — labelled our arithmetic There is no clean official hectare figure in the NSTC PDF body we extracted. So the arithmetic here is about gates and clocks, not inventing a slot count from a land form. Our arithmetic — land gate vs packaging slots NSTC notice date (primary)23 Sep 2026 Area low (UDN / Lai, reported)\~198 ha Area high (Taipei Times, reported)\~198.65 ha Midpoint we use in prose (our read)\~198–199 ha Days from notice to press close (\~24 Oct)23 Sep → 24 Oct ≈ 31 days Days left from this Pulse (3 Oct) to \~24 Oct (our arithmetic)≈ 21 days Land → working CoWoS slots (our read)Not 1:1 — EIA, build, tool-in, yield still ahead SPIL Yunlin first ops (MOEA, reported)2028 — overflow capacity clock, not Chiayi slots Inputs: NSTC 23 Sep 2026; Taipei Times 28 Sep; UDN; MOEA BIP 22 Sep. Day counts and “not 1:1” read are Second Order’s arithmetic / judgment, not official guidance. What this tells you: the live clock this month is whether the consultation closes cleanly and the plan enters feasibility and Executive Yuan review — not whether Nvidia already has more CoWoS wafers next week. What it does not tell you: exact monthly CoWoS capacity added per hectare, or which TSMC packaging variant (S / R / L) any future Chiayi hall runs. ![Chart: reported Chiayi advanced-packaging plant path vs SPIL Yunlin NT$100bn CoWoS; stuck step remains CoWoS slots.](https://storage.ghost.io/c/cd/10/cd10e222-131f-4ba4-b4a9-ca4214e8c12d/content/images/2026/10/taiwan-chiayi-packaging-land-october-2026-cluster-1.png) Taipei Times 28 Sep (Liberty Times sources); MOEA BIP 22 Sep. Education only. Reported Chiayi AP path vs overflow (label carefully) Phase I AP plants at Chiayi (Taipei Times / Liberty Times)2 (mass production started June, reported) Phase II AP plants targeted (same press)3 · complete by 2031 (reported) Further AP plants (Liberty Times sources)+5 → 10 total if realized (reported) NSTC confirmation of that plant countNone in the primary pack we reviewed SPIL Douliu CoWoS (MOEA BIP)NT$100bn · \~6 ha · 2,200 jobs · 2028 ops Plant path: Taipei Times 28 Sep citing Liberty Times / supply-chain sources. SPIL: MOEA BIP 22 Sep. Do not flatten secondary plant counts into NSTC fact. ## Where does the money stick? At the steps with the fewest good substitutes — and only after the stuck step can actually ship. Land clears a permission and site gate. Slots clear a yield gate. ![Infographic: where money sticks when Chiayi opens packaging land — build-out, CoWoS stuck step, ASE/SPIL overflow. Second Order Taiwan Pulse Oct 2026.](https://storage.ghost.io/c/cd/10/cd10e222-131f-4ba4-b4a9-ca4214e8c12d/content/images/2026/10/taiwan-chiayi-packaging-land-october-2026-infographic-1.png) Where money sticks on the Chiayi land print. Sources: NSTC; Taipei Times; MOEA BIP. Education only. - Build-out vendors (conditional). If consultation and later approvals clear, construction, utilities, and tool installers get paid on the way to a hall. That cash moves before any package ships. - Packaging-slot owners (later). TSMC still sets most leading CoWoS-class supply. ASE / SPIL take overflow when TSMC is short — which is why SPIL’s Yunlin CoWoS check matters as a second door, not as Chiayi land itself. - Not the stuck step: the Google Form. Public comment is required process. It is not capacity. Same pattern as the [August board-check / capex-split Pulse](https://www.sotkn.com/markets/taiwan/taiwan-tsmc-capex-split-september-2026/): money can be budgeted for packaging-related lines without printing the scarce slots buyers are queuing for. Land is another upstream cheque. ## Is CoWoS still stuck? Yes. A science-park expansion notice does not shorten CoWoS lead times by itself. Earlier Taiwan Pulses already mapped the bind: [CoWoS capacity and the packaging gate](https://www.sotkn.com/markets/taiwan/tsmc-cowos-capacity/), [August revenue with packaging still setting the pace](https://www.sotkn.com/markets/taiwan/taiwan-tsmc-revenue-september-2026/), and [Baipu CoWoS validation tools](https://www.sotkn.com/markets/taiwan/taiwan-baipu-cowos-validation-september-2026/). This Pulse adds the land gate in Chiayi — and insists on the gap between hectares and working packages. Two cautions before you read “ten packaging plants” as tomorrow’s supply: - Variant matters. CoWoS is a family. Added halls only help if they run the variant the in-demand chips use. - Built is not working. After land and EIA come construction, tool-in, and yield. SPIL’s own Yunlin clock says 2028 for first operations on that NT$100bn plant. If packaging catches up, the stuck step moves. Candidates stay [HBM](https://www.sotkn.com/explained/hbm-explained/) (mostly Korea) and power for data centres — see [Where does the stuck step move?](https://www.sotkn.com/analysis/where-does-the-stuck-step-move/). ## What dates matter ![Calendar: NSTC 23 Sep notice, ~24 Oct comment close, TSMC Sep revenue ~8 Oct, Q3 mid-Oct, SPIL Yunlin ops 2028.](https://storage.ghost.io/c/cd/10/cd10e222-131f-4ba4-b4a9-ca4214e8c12d/content/images/2026/10/taiwan-chiayi-packaging-land-october-2026-calendar-1.png) Dates to watch for the Chiayi packaging-land read. Education only. Dates to watch 23 Sep 2026NSTC Chiayi Phase II expansion notice (primary) \~24 Oct 2026 (press)Public comment close — then feasibility / EY path \~8 Oct 2026TSMC September revenue (demand clock — do not invent) Mid-Oct 2026 (TBC)TSMC Q3 results — margin / any packaging colour 2028 (MOEA BIP)SPIL Yunlin CoWoS first operations (overflow clock) 2031 (press)Chiayi Phase II three-plant completion target (reported) NSTC; Taipei Times / secondary close date; TSMC financial calendar; MOEA BIP; Liberty Times path via Taipei Times. September revenue is not published as at 3 Oct 2026. ## How is this different from … - TSMC August revenue Pulse (16 Sep): That piece was a demand and margin print (NT$514.8bn August). This piece is a land-and-consultation print for packaging-park space. - TSMC August board / capex-split Pulse (29 Sep): That piece split a US$29.4bn Form 6-K cheque. This piece does not re-litigate that split; it asks whether Chiayi land clears before slots print. - Baipu CoWoS validation Pulse (23 Sep): Baipu was tools and validation capacity. Chiayi here is park land process. - SPIL Yunlin groundbreaking (Aug) / MOEA BIP (22 Sep): Supporting overflow-packager capacity. Not a substitute for the NSTC Chiayi trigger. - Korea HBM capacity-mix Pulse (30 Sep): Neighbour door on memory wafers. This Pulse stays on Taiwan packaging land. ## What would change this view? The “land ≠ slots / CoWoS still binds” read weakens if: - Chiayi consultation is withdrawn or the hectare plan is sharply cut - TSMC guides clear CoWoS capacity additions with dates and variants (not only park land) - CoWoS lead times shorten for buyers outside the top tier - A second packaging supplier qualifies on a leading AI chip, not only announces land - Hyperscaler / neocloud spend cuts show up first in Taiwan monthly sales - HBM or power, not packaging, becomes the louder bottleneck in buyer commentary It stays intact while packaging lead times stay long, Chiayi remains a process notice rather than a yield print, and overflow packagers still advertise 2028-class clocks. ## Practical takeaways - NSTC opened a real Chiayi land consultation on 23 Sep — that is the primary dated trigger - \~198–198.65 ha is press-reported; treat it as such until NSTC prints a figure - TSMC “+5 → 10” AP plants at Chiayi is Liberty Times / supply-chain, not NSTC fact - Who gets paid first on a cleared plan: build-out vendors; later: packaging-slot owners - Stuck step remains CoWoS slots — land and forms are not yields - Watch \~24 Oct comment close, then \~8 Oct TSMC Sep revenue for the demand clock - SPIL Yunlin NT$100bn / 2028 is overflow context, not this land print ## FAQ **What did NSTC announce about Chiayi Science Park?** On 23 Sep 2026, Taiwan's National Science and Technology Council posted a Southern Taiwan Science Park Bureau notice opening the Chiayi Park Phase II expansion (二期擴大) to public comment, with an attached information pack on industry focus, Taiwan Sugar land to the north, and a lease model. **How big is the expansion?** Taipei Times (28 Sep 2026) reported the council's estimate at about 198.65 hectares; UDN quoted President Lai saying Chiayi Phase II would expand by about 198 hectares. The NSTC PDF we reviewed describes the location and lease model but does not print the hectare figure in the body text we extracted — treat \~198–198.65 ha as press-reported. **Did NSTC confirm TSMC will build five more packaging plants?** No. The five-more / ten-total plant count comes from Liberty Times supply-chain sources via Taipei Times (28 Sep 2026). NSTC's primary print is the land-expansion consultation and industry positioning (including heterogeneous packaging), not a TSMC plant schedule. **Who gets paid in this Taiwan read?** If the plan clears: construction, utilities, and tool vendors on the build-out; later, packaging-slot owners (TSMC primary; ASE/SPIL as overflow). This is a map of who gets paid — not a buy list. **What is the stuck step?** CoWoS-class advanced packaging slots. Land consultation and hectares do not equal working package yields. Watch lead times for smaller buyers, not only park notices. **How does SPIL Yunlin fit?** MOEA Bureau of Industrial Parks (22 Sep 2026 English release) framed SPIL's NT$100 billion Yunlin CoWoS plant (\~6 ha, 2,200 jobs, operations 2028). Groundbreaking was reported 11 Aug 2026 by Focus Taiwan/CNA. It is overflow-packager capacity, not the Chiayi NSTC land trigger. **Is this investment advice?** No. Education only. It maps who gets paid and which step is stuck. It is not a recommendation to buy or sell any security. ## Keep reading on the map - [Taiwan Markets hub](https://www.sotkn.com/markets/taiwan/) — country door - [TSMC revenue / CoWoS Pulse (Sep)](https://www.sotkn.com/markets/taiwan/taiwan-tsmc-revenue-september-2026/) — gold demand print - [TSMC August board / capex split](https://www.sotkn.com/markets/taiwan/taiwan-tsmc-capex-split-september-2026/) — cheque ≠ slots - [Baipu CoWoS validation](https://www.sotkn.com/markets/taiwan/taiwan-baipu-cowos-validation-september-2026/) — tools door - [CoWoS, explained](https://www.sotkn.com/explained/cowos-explained/) — packaging primer - [Korea HBM DRAM capacity mix](https://www.sotkn.com/markets/korea/korea-hbm-dram-capacity-mix-september-2026/) — neighbour memory door - [Where does the stuck step move?](https://www.sotkn.com/analysis/where-does-the-stuck-step-move/) — Analysis - [Semiconductors stack](https://www.sotkn.com/stack/semiconductors/) — layer map **Get the Wire.** Second Order’s free daily brief on what moved in the AI chip map. [Read the Wire →](https://www.sotkn.com/the-wire/) · [Subscribe free →](https://www.sotkn.com/#/portal/signup) **Members’ Analysis (teaser):** If Chiayi land clears and packaging halls eventually open, who captures the next bind — HBM, substrates, or power? The free line: land is a gate, not a slot. [Read the Analysis →](https://www.sotkn.com/analysis/where-does-the-stuck-step-move/) **How we check this** Figures come from NSTC / Science Park information packs and dated government or company releases in the list below. Area (hectares) and TSMC plant counts from press are labelled as reported, not guided. Where we work something out ourselves, the arithmetic is shown in full and labelled *our arithmetic*. **Last reviewed:** 3 Oct 2026 · **Next review:** after Chiayi comment close (\~24 Oct) or next TSMC monthly revenue Spot an error? [Tell us](mailto:sean@thekopinotes.com) and we will correct it and note the change here. [Our editorial standards →](https://www.sotkn.com/editorial-standards/) Not investment advice. Do your own research. --- ### Sources - NSTC Chiayi expansion notice (23 Sep 2026): [nstc.gov.tw](https://www.nstc.gov.tw/folksonomy/detail/73a545ea-eb37-4076-8564-6e1ae68aca19?l=ch&ref=sotkn.com) - NSTC information pack PDF: [attachment](https://www.nstc.gov.tw/nstc/attachments/5d556935-237a-4230-ad54-40d35ddc6528?ref=sotkn.com) - Taipei Times (28 Sep 2026): [Chiayi Science Park Phase III signaling](https://www.taipeitimes.com/News/front/archives/2026/09/28/2003864999?ref=sotkn.com) - UDN (Lai remarks on \~198 ha): [udn.com](https://udn.com/news/story/7241/9781644?ref=sotkn.com) - MOEA BIP SPIL Yunlin (22 Sep 2026 English): [moea.gov.tw](https://www.moea.gov.tw/MNS/English/news/News.aspx?kind=6&menu%5Fid=176&news%5Fid=124044&ref=sotkn.com) - Focus Taiwan SPIL groundbreaking (12 Aug 2026): [focustaiwan.tw](https://focustaiwan.tw/business/202608120005?ref=sotkn.com) - Secondary synthesis (not primary): [eastasiabrief.com](https://eastasiabrief.com/semiconductors/tsmc-adds-five-packaging-fabs-chiayi-ease-ai-crunch-405?ref=sotkn.com)