Newly-elected KMT chairman vows to address party assets

Eric Chu, the newly elected chairman of the ruling Kuomintang (KMT) party in Taiwan, pledged Wednesday to address controversy over the party's finances.

The opposition Democratic Progressive Party (DPP) raised doubts over Kuomintang's "improperly obtained" assets following the Nov. 29 local election.

It alleged that the assets in question were collectively worth more than 100 billion new Taiwan dollars (3.2 billion US dollars).

Chu, who assumed the KMT leadership Monday, said he will solicit the opinions of lawyers and legislators as soon as possible.

The KMT released an inventory of its financial and real-estate assets on Dec. 31, which included 147 plots of land worth 615.12 million new Taiwan dollars; 152 properties worth 400 million dollars; and investment in two enterprises with a net value of 23.336 billion dollars.