Coverage Story on Chairman Lai, Wenxiang of Century Iron and Steel Industrial Co., Ltd.


Steel structure is an important part of the green building construction, which plays an indispensable role in the sustainable development of all resources on Earth. In response to several earthquake disasters reported from the global community, steel architecture with high toughness, strength features, and energy efficiency will soon become the mainstream for all architectures in the 21st century. 


Birth is Much but Breeding is More

Chairman Lai, Wen-xiang was born to a typical farm family in Dalin Township of Chiayi City. A small village in the countryside is a portrayal of the early agricultural society in Taiwan. Despite the fact that the family was leading a very simple life due to low family income, the Chairman's father Lai, Chao-shui still put great emphasis on his children’s education. Chairman Lai recalled that his eldest and second eldest brothers always exhibited great academic performance when they were studying in elementary school and junior high school. After passing the entrance examination, both sons were admitted to the top schools of Southern Taiwan, which made their father very proud. However, before graduating from National Chiayi Senior High School, the Chairman's eldest brother had committed suicide because of love, which made the entire family very depressed. Lai Chao-shui blamed himself deeply for this, "If my son didn't continue to study and stay at home farming, nothing like this would've ever happened!"

Chairman Lai, Wenxiang was only studying in his first year at the elementary school back then. Despite the fact that he was rather confused about the term "life" at his early age, he still felt mood swing and emotional distress after his eldest brother passed away. He started to question the real meaning of education, "From then on, I became very rebellious and refused to study. Anyway, my father didn't care so much about our education as he did before." 

Chairman Lai Wenxiang self-deprecated by saying that back in his school years, there were only 38 students in his class, and he always ranked 36 or 37 among his classmates. "Since one of my classmates has IQ problem and another one skip class often, I can win either one of both of them during my school examinations." 

In order to reduce the financial burden for his family, Chairman Lai has found a job as an iron factory apprentice in Sanchong District after graduating from junior high school. At that time, the business scale of the iron factory was rather small, often a domestic OEM hidden in an alleyway without complete equipment as can be seen in the factories today. Chairman Lai explained that a typical domestic OEM is often composed of "one master and two apprentices", with the master responsible for providing not only room & board but also passing on professional skills to the apprentice. As an apprentice, Chairman Lai has to learn from scratch and take on all the responsibilities including everyday cleaning and heavy duties. "I feel somehow bitter every time I look back on those old days working as an apprentice, but it was indeed due to those years that I have accumulated plenty of hands-on experiences."


Young Couples Laying Solid Foundation for Their Business

In 1980, Chairman Lai began serving for the Republic of China Marine Corps (ROCMC) with service term lasting for a total of three years. It was during that time Chairman Lai came to know his wife Chen, Xing-xue. At that time, Taiwan Garrison Command was selecting new members for its own unit from the Republic of China Marine Corps (ROCMC). After being selected by the Taiwan Garrison Command, Chairman Lai was assigned to Guanyin District, Linkou District, and other coastal defense forces as deputy squad leader. Later, he was transferred to the coastal defense forces at Zhuwei District as the squad leader. "During my military service at Zhuwei District, I love to admire beautiful ladies while walking on the street. And one day, I just came across my beautiful wife!" Chen, Xing-xue lived in Zhuwei. Every day, she needed to take a shuttle bus to get to her company located at Nankan District. After Chairman Lai has a huge crush on her, he would always wait for her at the bus station. One day, Chairman Lai rode his motorcycle to the bus station to take her home. Mrs. Chen was deeply touched by his consideration. After dating for one year and a half, both of them decided to get married. Chairman Lai jokingly said, "My mother-in-law just love me too much. She said that I am a very good man who is very hard to come by. That’s why she kept nagging at me, persuading me to marry her daughter. Ha! ha!" 

After Chairman Lai married his wife, Taiwan Economic Miracle has given rise to the massive construction projects. With construction projects emerging one after another, customer demand for iron windows also increased accordingly. Under his friends' invitation, Chairman Lai has joined venture with his friends to start up an iron factory, taking his first step towards his entrepreneurship. Since both capital and manpower were not sufficient enough at the beginning, in order to save personnel cost, Mrs. Chen would always carry their child with her and work alongside with Chairman Lai when the business turned busy. Under an era where all kinds of resources are largely deprived, the young couple has to work for their factory and family at the same time. By working side by side, the young couple has laid a very solid foundation for Century Iron and Steel Industrial Co. Ltd. 

With a cheerful and straightforward personality, Chairman Lai always exhibit good faith and great integrity while doing business with other people, making him a person with a good interpersonal relationship.


What Doesn't Kill You Makes You Stronger

In 1987, Chairman Lai and his friends have joined venture and started up the "Century Iron and Steel Industrial Co. Ltd" at Guanyin Industrial Park. Chairman Lai explained that CT is the most typical kind of business that is started completely from scratch. Without rich parents or high educational background, Chairman Lai is able to uphold the spirit of a "Taiwanese Canine" to overcome several obstacles resulted from the economic crisis. He has also devoted a great amount of time and effort to make up for the lack of aptitude and exhibited great resolution to make up for the lack of physical capability. Such perseverance and diligence to strive for perfection have become the greatest soft power of "Century Iron and Steel Industrial Co. Ltd".

In 2008, CT has formally become one of the listed companies of Taiwan Stock Exchange (TWSE), which is the first iron & steel company that was admitted as a TWSE listed company in the past 10 years. Chairman Lai smiled as he looked back on those old days applying for the company listing, "Money always remains the biggest problem during my early stage of entrepreneurship. Every day after 3 o'clock, I would always feel relief, thinking that it's so great that there is no dishonored check on that day." Since fundraising is never a long-term solution to address the financial problems, Chairman Lai decided to print stocks in exchange for cash. He started entrusting professional institution with counseling and marketing services to apply for the company listing. At that time, his friends all laughed at him by saying, "Mr. Lai must be insane! How can an iron factory ever be admitted as a listed company?" As expected, his application form was rejected by the authority in charge. 

Although faced with great obstacles, Chairman Lai was never defeated, "CT is an enterprise operating on the business spirit of a Taiwanese Canine. The reason for the Taiwanese Canine to become the greatest hunter is its perseverance and diligence." Chairman Lai decided to provide his clients with services and value-added technologies that exceed their expectations. The key to the rapid growth of Century Iron & Steel Industrial Corporation is the steel structural project of the 8-inch semiconductor fabrication plants as entrusted by the Taiwan Semiconductor Manufacturing Company (TSMC) in 1994. Due to the strict requirements of the high-tech company in terms of high technical threshold and short working hours, even the Japanese steel structure factories at that time hesitated to take a step forwards. Nonetheless, based on the principle of good faith, CT has completed the steel structural project on time, transforming TSMC into the head of the semi-conductor industry within a short period of time. CT has thus become the first choice for electronic firms to have their factories built.

In 2000, the administrative building of New Taipei City Government was completed, laying a solid foundation for CT to gain expertise in the field of public works. "CT's greatest advantage lies in its capability of vertical integration and great responsiveness. From semiconductor fabrication plant, residential building to public works, you can see the signs of CT's growing progress in each architecture."


Every Cloud has a Silver Lining 

"The early stage of our entrepreneurship at Sanchong District is the most helpless period of my life," Chairman Lai explained. At that time, his eldest daughter has just started learning to walk. However, she always walked unsteadily. At first, Chairman Lai thought it was completely normal for a toddler to walk unsteadily. But later, he found out that the condition has become even worse as she grew older. Under his friend's suggestion, Chairman Lai took his daughter to the hospital. The doctor diagnosed his daughter as suffering from the congenital hip joint dislocation. It was not until the completion of medical surgery and 6 months of plaster casting that his eldest daughter was able to gain recovery and walk steadily again.

Chairman Lai's eldest son was suffering from the congenital cleft lip and cleft palate (CLP), which is also known as the orofacial cleft. Although some postoperative scars were left after 6 major and minor surgeries, his son is now no different from other ordinary people in appearance.

While his wife was receiving postpartum confinement and his daughter was undergoing rehabilitation process at the hospital, Chairman Lai was involved in a major car accident on his way to work from Sanchong District to Xinzhuang District. By the time he was sent to the hospital, Chairman Lai has exhibited dilated pupils and a minor concussion. Afterward, he was transferred to the Mackay Memorial Hospital to receive intensive care. "Fortunately, I was young and strong back then. After one week of hospitalization, I have gained full recovery from my injuries. However, since all our family members were staying at the hospital during that period, we have to deplete our saving to pay for the electric and water bill. I always feel quite sentimental every time I look back on those days."

 Chairman Lai explained that since he and his wife have never received a good education, he was especially concerned about his children's education. Today, his daughter has gone to the UK and received a master degree, while his son was planning to seek for further study in Japan after completing his military service. "I am very proud of my children", Chairman Lai said happily, "I have to persuade my daughter into studying aboard. Every time we talked on the telephone, her sobbing sound always broke my heart." Chairman Lai continued, "Since I am only in my 50s, I wish that both my children can receive a good education and earn a living for themselves, instead of receiving a huge bequest from me." Chairman Lai hoped that after completing their study and returning from abroad, both his children can start their career from entry level, sharpening their skills in preparation of becoming the heirs to his business in the future. 

With great perseverance and resilience, Chairman Lai has overcome several obstacles throughout his life. His story is indeed both touching and inspiring.


... Fourth Quarter of 2010 National Association of Young Entrepreneur, ROC (Taiwan)        

(Article / Li, Ming-jun)