When Wang's friends suggested that a piece of his Taipei real estate would be a perfect site for a tourist hotel, he rejected the idea upon his mother's advice. Instead, he decided to establish a first-class hospital aimed at providing reasonably priced medical service to the public. Not surprisingly, Wang named the hospital the Chang Gung Memorial Hospital, in memory of his father, Wang Chang-gung.
王永慶在敦化北路中泰賓館對面有一塊地，本來有人建議他蓋旅館，可是他想起父親生前的感嘆，又加上母親的敦促，所以便以這塊地和林口的另一塊土地，用來興建醫院，並以「長庚」命名，以紀念父親。