Korea offers $500,000 to Taiwan for earthquake relief

A building in Hualien that had partially collapsed from the 7.4-magnitude earthquake that hit Taiwan on April 3 is being demolished on Friday. [YONHAP]

Korea will provide $500,000 in humanitarian assistance for relief efforts in the aftermath of the 7.4-magnitude earthquake that hit Taiwan earlier this month, the Foreign Ministry said Thursday.

“Our government hopes that this support will help restore the damaged areas and assist residents to return to their daily lives as soon as possible,” said the Foreign Ministry in a press release.

The death toll from the earthquake that struck the eastern part of Taiwan on April 3 rose to 16 on Wednesday. The disaster also left over 1,100 people injured.

Six Korean travelers stranded in the eastern town of Hualien, where the earthquake struck hardest, were safely moved to another area and continued their travels, according to the Foreign Ministry last week. No Korean casualties were reported.

The 7.4-magnitude earthquake was followed by more than 300 aftershocks in the following days, according to the Taiwanese authorities.

The earthquake was the strongest since the 7.6-magnitude quake that hit on Sept. 21, 1999, which killed more than 2,000 people on the island.

The Japanese government also sent $1 million in humanitarian assistance to Taiwan, Japanese Foreign Minister Yoko Kamikawa said on Saturday.

However, the Taiwanese government rejected China’s offer of aid, with the Mainland Affairs Council saying that while Taiwan “greatly appreciates” the concern, “there is no need for the mainland side to assist us in providing disaster relief.”

The earthquake in Taiwan could affect Korean semiconductor companies like Samsung Electronics and SK hynix, analysts said.

The two Korean chipmakers have paused second-quarter negotiations as they await the quake's impact on prices, although neither firm has production lines in the region.

Industry insiders warned that the quake's impact on Taiwanese semiconductor facilities, including TSMC, could ripple through the global semiconductor landscape, potentially affecting Korean firms indirectly.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]