Last Updated: August 28, 2023, 11:04 IST
Terry Gou, Foxconn founder announces bid for Taiwan presidency during a press event in Taipei, Taiwan August 28, 2023. (Reuters)
Foxconn’s founder Terry Gou aims for Taiwan presidency, running as an independent candidate, challenging opposition’s nominee in 2024 election
Terry Gou, the billionaire founder of Foxconn, on Monday announced his intention to run for the presidency of Taiwan as an independent candidate. He announced the decision during a press event in the capital Taipei. Gou, with longstanding ambitions to lead the self-ruled island, pursued the nomination of the main opposition Kuomintang party this year.
The Taiwanese businessman who founded a company that became the world’s largest contract producer of electronics and a key supplier of iPhones stepped down as Foxconn chief in 2019 and made a presidential bid that year. But he later dropped out after he failed to win the nomination for Taiwan’s main opposition party, the Kuomintang KMT, which traditionally favours close ties with China.
He made a second bid to be the KMT’s candidate for the presidential election to be held in January earlier this year, but the party chose instead Hou Yu-ih, the mayor of New Taipei City.
Second Time’s a Charm
Gou has spent the past few weeks touring the democratically-run island and holding campaign-like rallies, fuelling speculation he was planning to run as an independent. “Under the rule of the Democratic Progressive Party in the past seven years or so, internationally, they lead Taiwan towards the danger of war. Domestically, their policies are filled with mistakes,” Gou said, adding “the era of entrepreneur’s rule” has begun.
“Give me four years and I promise that I will bring 50 years of peace to the Taiwan Strait and build the deepest foundation for the mutual trust across the strait,” he said in a plea to Taiwan voters. “Taiwan must not become Ukraine and I will not let Taiwan become the next Ukraine.”
The latest presidential candidate’s main theme in his pre-campaign events has been that the only way to avoid war with China, which claims Taiwan as its own territory, is to get the DPP out of office. Gou must gather close to 300,000 voter signatures by November 2 to be qualified as an independent candidate, according to elections regulations. The island’s Central Election Commission will review the signatures and announce the results by November 14.
His Competitors
Foxconn founder’s announcement comes as Taiwan Vice President William Lai, the presidential candidate for the ruling Democratic Progressive Party (DPP), is the favourite to win the election as he leads the polls.
Former Taipei mayor Ko Wen-je of the small Taiwan People’s Party has generally been running second in the polls, with Hou a distant third. In a call for “unity”, Gou on Monday urged Ko and Hou to sit down with him and discuss plans to join forces in order to win the election against the DPP.
The KMT voiced “extreme regret” on Gou’s bid and urged Gou to support the party’s candidate, Hou. China has a particular dislike of Lai for comments he has previously made about being a “worker” for Taiwan independence, a red line for Beijing. The DPP champions Taiwan’s separate identity from China, but the government it leads has repeatedly offered talks with China that have been rebuffed.
China Tensions
As the election approaches, tensions between Taipei and Beijing have escalated, with China conducting frequent military exercises near the island to assert its sovereignty.
Addressing concerns about potential conflicts of interest due to Gou’s significant stake in Foxconn, which has substantial investments in China, Gou stated that he is prepared to “sacrifice” his personal assets in China if a Chinese attack were to occur.
Gou added that he has never been under the control of the People’s Republic of China and he doesn’t follow their instructions.
(With agency inputs)
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