Life story

Wang Yung-ching

Founders of FPG Wang Yung-ching

Mr. Wang Yung-ching, a man of humble origin, began working at a young age as a rice delivery man in Chiayi, all the while observing and learning the ins and outs of running a business. Two years later, he borrowed NT$200 from his father to open a rice shop, and began showing his talent as a businessman after just a few years of hard work and careful management, laying the foundation for his future success. In 1954, he applied for a US aid loan and founded "Formosa Company" (later renamed "Formosa Plastics") to produce PVC powder. During the initial phases of business operations, many setbacks and challenges emerged, but he overcame them one by one with his wisdom and perseverance, finally realizing a "petrochemical kingdom" after half a century of unwavering commitment. Following the company’s expansion into the US, China, Indonesia, and Vietnam, he earned a reputation as the "god of management" for his immense contribution to Taiwan's economic development. At the same time, he began to invest in education to train industrial and medical professionals, and founded non-profit medical institutions to improve healthcare quality in Taiwan, thereby benefiting the community and making positive contributions to society. His lifetime achievements were forged in fire and only achieved through perseverance and hard work. As he once said: "While nothing comes without effort, the world is yours for the taking," an insight that exemplifies his profound understanding of life and highlights his extraordinary personality!

(FPG, Dec. 31, 2022)
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Wang Yung-tsai

Founders of FPG Wang Yung-tsai

Mr. Wang Yung-tsai grew up in an impoverished family and naturally developed the admirable qualities of diligence, perseverance, frugality, trustworthiness, and ambition. Following in his older brother’s footsteps to Chiayi at a young age, he continued his studies as he ran the rice shop together with his brother before relocating to Shanqi (now Fengxiang), Hsinchu County alone even before reaching the age of 20, and becoming a contractor for bunker construction. It was at this job where he learned the work process and technical guidelines for construction, and fully utilized his expertise in construction management, command, and dispatch. In 1954, he responded to his brother's summons and went to Kaohsiung to jointly manage Formosa Plastics Corporation. The brothers endured great adversities when the company was first established, but overcame the difficulties with their hard work and determination to strive for excellence, finally laying a solid foundation. The decision to establish the Sixth Naphtha Cracker Project in Mailiao, Yunlin in 1991 was the most crucial turning point of the Formosa Plastics Group (FPG). The founder resolutely shouldered the responsibility of constructing the sixth naphtha cracker at nearly 70 years old, and stood at the helm overseeing the entire project. After land reclamation, in only a few short years, an area previously submerged in seawater was transformed into a large and highly efficient integrated petrochemical park, once again exemplifying his expertise in management. The project also laid the foundation for FPG to proceed to the next level in corporate development while earning the founder the reputation as "chief engineer of the sixth naphtha cracker."

(FPG, Dec. 31, 2022)
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