Founded by Yu-Ziang Hsu in Shangahi in 1942, Far Eastern Textile Ltd. as the base of Far Eastern Group is one of the leaders in textile industries in the world with versatile and high-quality products for more than 50 years. The vertical sales and production from polyester chips, polyester stape fiber, yarn, fabric to apparel strengthens the flexibility in the company. Joint-venture with Du Pont of the United States projected investment of US$100 million in the production of high-tech nylon 66 in 1995. In 1997 Far EasTone Telecommunications Ltd., which is 62.4% owned by FETL subsidiary Yuan Ding Investment Corp., obtained island-wide DCS and northern-region GSM mobile phone licenses from the Directorate General of Telecommunications. This new high-tech enterprise is a powerful stimulative force in FETL's transition into the new century, and it provides a new model for growth as well. The subsidiaries Far Eastern Apparel Holding Ltd., Far Eastern Dyeing & Finishing (Su Zhou) Ltd., etc. were establisdhed successively in China and Vietnam. FETL is awarded by Taiwan CommonWealth Magazine as the number one "The benchmark Enterprise with best reputation" in 2005 survey of benchmark enterprises.