An annual semiconductor industry trade fair, SEMICON Taiwan, has attracted 700 exhibitors worldwide to showcase their latest innovations.

"The continued success of this industry comes in the face of unprecedented global challenges in recent times, including considerable uncertainty around supply chains," President Tsai Ing-wen told industry leaders during a forum. "Even today new challenges continue to arise, making the situation more volatile."

Taiwan manufactures 90 percent of the world's most advanced chips and its semiconductor market is forecast to reach USD 157 billion this year.