He was referring to the US$1.75 billion agreement with France in the early 1990s for 6 Lafayette class ASW frigates (the Kang Ding class in the ROCN), which were built in France 1993-1998.
The Taiwan frigate deal was a huge political scandal, both in Taiwan and France. Eight people involved in the contract died in unusual and possibly suspicious circumstances. Arms dealer Andrew Wang fled Taiwan to the UK after the body of presumptive whistleblower Captain Yin Ching-feng was found floating in the sea. In 2001 Swiss authorities froze accounts held by Andrew Wang and his family in connection to the Taiwan frigate scandal.
In 2003, the Taiwanese Navy sued Thomson-CSF (Thales) to recover alleged $590 million in kickbacks, paid to French and Taiwanese officials to grease the 1991 La Fayette deal. The kickback money was deposited in Swiss banks, and under the corruption investigation, Swiss authorities froze approx. $730 million in over 60 accounts. In June 2007 the Swiss authority returned $34 million from frozen accounts to Taiwan, with additional funds pending.
Andrew Wang died in the UK in 2015 and collection efforts continued against his family. In February 2021, the Federal Department of Justice and Police said that Switzerland will restitute nearly US$266 million to Taiwan.