The Shin Kong Life Tower 新光人壽保險摩天大樓 located in Zhongzheng District used to be Taipei's and Taiwan's tallest building in the past (between 1993-1997) with its 245m, but meanwhile it's fallen in the shadow of the 347.5m tall Tuntex Sky Tower in Kaohsiung and its famous neighbor, the 509m tall Taipei 101 in the eastern part of the city (source). In a few years the building will be overshadowed by a new pair of skyscrapers in its close proximity - the currently biggest project in Taipei is called Gate of Taipei and consists of two high-rise towers. The bigger one will be 320m tall, while smaller will be 240m. This will further diminish the role of Shin Kong Life Tower as the second landmark of Taipei and it will be interesting to observe, how this will alter the cityscape. At the bottom of the tower is today a Shin Kong Mitsukoshi Shopping Mall, so some people falsely call it Mistsukoshi Tower (Mitsukoshi is a Japanese department store chain and had nothing to do with the building). The original name reveals, that Shin Kong Life Tower is actually 新光 (Shin Kong) 人壽 (Life) 保險 (Insurance) 摩天大樓 (Skyscraper). Shin Kong is a huge Taiwanese corporation involved in many fields such as insurance, banking and investment (the Japanese Mitsukoshi is just their retail partner). The building used to have a very popular restaurant at the top and an observatory, but that stopped operation soon after Taipei 101 became Taipei's most famous landmark. My wife recollects, that the restaurant offered tasty Western food, excellent coffee and a great ambiance. Due to some connections my wife managed to bring me up there to the 45th floor and I was able to see Taipei from a different angle - check my photos further down.
The view from Shin Kong Life Tower
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