Palasia Hotel is a hotel in

Koror Koror is the state comprising the main commercial centre of the Republic of Palau. It consists of several islands, the most prominent being Koror Island (also ''Oreor Island''). It is Palau’s most populous state. History In the oral tradition ...

Palau Palau,, officially the Republic of Palau and historically ''Belau'', ''Palaos'' or ''Pelew'', is an island country and microstate in the western Pacific. The nation has approximately 340 islands and connects the western chain of the Caro ...

. It is the tallest building in Palau with 10 floors and a height of around 36m. The building cost $1 million to build and was funded by

Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the nort ...

History

In January 1995,

Chen Ding-nan Chen Ding-nan (29 September 1943 – 5 November 2006), sometimes transliterated Chen Ting-nan or referred to as David Chen, was an environmentalist, Taiwanese statesmen and Minister of Justice noted for his efforts to fight corruption and char ...

, president of the

Asia-Pacific Asia-Pacific (APAC) is the part of the world near the western Pacific Ocean. The Asia-Pacific region varies in area depending on context, but it generally includes East Asia, Russian Far East, South Asia, Southeast Asia, Australia and Pacific Isla ...

section of the

Kuomintang The Kuomintang (KMT), also referred to as the Guomindang (GMD), the Nationalist Party of China (NPC) or the Chinese Nationalist Party (CNP), is a major political party in the Republic of China, initially on the Chinese mainland and in Tai ...

’s (KMT's) Central Investment

Holdings Company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

, visited Palau. By August 1995, Chen had made an agreement with Palauan politician

Alan Seid Alan Rechuldak Seid (born June 9, 1957) is a Palauan businessman and politician of partially American Jewish origin. He was elected into House of Delegates of Palau from 1989 until 2000. He along with Chen Ding-nan agreed to build the Palasia Hote ...

to build the Palasia Hotel. Taiwan held 80 percent ownership and Palau held 20 percent. Due to the problems associated with property purchases by foreigners the hotel was built on Seid's land. The hotel opened on 24 August 1998. The Taiwanese stake in the Palasia Hotel is not held by the government of Taiwan but by the KMT political party in its private capacity. In the democratic era this has made it a subject of controversy with an investigation by the

Ill-gotten Party Assets Settlement Committee The Ill-gotten Party Assets Settlement Committee (CIPAS; ) is an independent government agency of the Republic of China established in 2016. It is responsible for the investigation and returning of ill-gotten assets of political parties and their ...

. In 2018 the Taiwanese government blocked the KMT investment vehicle which owns the hotel from selling it.

References

Hotels in Palau Buildings and structures in Palau Hotels established in 1998 Hotel buildings completed in 1998 Buildings and structures in Koror Palau–Taiwan relations Kuomintang {{Oceania-struct-stub

History

See also

References