Early Life
Douglas Hsu, born on August 24, 1942, is the chairman of the Far Eastern Group. His father, Yu-Ziang Hsu, founded the Far East Knitting Factory in China in 1937, an underwear supplier. The company later moved to Taiwan in 1949 following the Chinese Civil War.
Rise to Success
Hsu joined Far Eastern Textiles at 38 and has been instrumental in the company's growth and diversification. Under his leadership, the Far Eastern Group has expanded into 10 major industries with over 200 companies, including textiles, cement, retail, telecommunications, and financial services. Hsu's focus on 'stability' and long-term sustainability has been a key factor in the group's success.
Key Business Strategies
Hsu is known for his conservative approach to business and prioritizing long-term sustainability over rapid expansion. He emphasizes a skilled and adaptable workforce, focusing on market penetration and stability. The group’s strategy involves vertical and horizontal integrations across various sectors to ensure raw material supply and synergy between different business divisions.
Philanthropy
Far Eastern Group emphasizes corporate social responsibility, establishing educational facilities, medical institutions, and foundations. The Group also encourages employees to participate in charity events.