Foxconn founder launches bid to be Taiwan’s President

Foxconn founder launches bid to be Taiwan’s President

Business news |
By Peter Clarke

Terry Gou, the founder of Foxconn, the world’s largest electronic manufacturing services provider, has declared his candidacy in the 2024 presidential race in Taiwan.

Billionaire Gou plans to run as an independent in the January election, which puts him currently in fourth place behind three candidates affiliated to political parties.

Gou’s connections with China through the company he founded – Hon Hai Precision Industries Co., which trades as Foxconn – are likely to disrupt the presidential race. This will have implications for US-China relations and Taiwanese and global security.

However, despite the fact that Gou has declared a goal of being more conciliatory towards Beijing his entry into the presidential race could make the election of the candidate from the incumbent Democratic Progressive Party more likely. The DPP is fighting for Taiwan’s status as an independent country.

Gou is likely to split the vote of those that favour negotiations with the People’s Republic of China, according to observers.

The other presidential candidates are Hou Yu-ih of the main opposition Kuomintang and Ko Wen-je of the Taiwan People’s Party. They are running against the Vice President Lai Ching-te.

Gou, a multibillionaire, has moved out of management of the company he founded. That company employs about a million people in China where it makes products for Apple, Sony and others

Gou has tried for the presidency before. In 2019 he handed over Foxconn’s day-to-day operations to a management team while he ran in a bid that eventually failed.

Related links and articles:

Foxconn to break US manufacturing promise?

Report: Foxconn, TSMC in talks over Indian wafer fab

Foxconn to sell stake in Tsinghua Unigroup, faces fine


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