iPhone Factory Owner Cancels Running for President, Says Three Words Tech – 6 hours ago

Jakarta, CNBC Indonesia – Terry Gou, the billionaire founder of technology giant Foxconn, has withdrawn from the candidacy for President of Taiwan.

Gou, who announced his candidacy in August, said he wanted to unite the opposition and ensure Taiwan does not become “the next Ukraine”.

He also blamed the ruling Democratic Progressive Party (DPP) for bringing Taiwan to the brink of war by antagonizing China, which claims the island as its territory.

Gou withdrew from the presidential market on Friday (24/11), after only receiving the green light from the election commission last week after collecting enough valid signatures to run as an independent candidate.

In a statement he said it “pulled at the body but not at the soul”.

“STOP, RESET, RESTART,” he added, using English.

He did not specify what he would do next in the presidential campaign or who he might support, Hou Yu-ih of Taiwan’s largest opposition party the Kuomintang (KMT), or former Taipei mayor Ko Wen-je of the much smaller Taiwan People’s Party ( TPP).

“Must win! OK? Complete the change of power and change Taiwan,” Gou said.

Ko thanked Gou in a comment on Gou’s Facebook page.

“We will definitely win!” Ko added.

Gou’s decision to resign is said to be a relief for the management of the iPhone manufacturing company. Foxconn officials have reportedly created potential contingency plan scenarios following news of the Chinese investigation.

“This is a relief,” said one source close to Foxconn, quoted by Reuters, Tuesday (28/11/2023).

“We were a little nervous before, but this (decision) puts an end to that,” the person said, referring to concerns about escalating investigations, which could further affect Foxconn’s operations in China.

Foxconn declined to comment.

Foxconn Chairman Young Liu said in an earnings call last week that his company was prepared for all eventualities, when asked about potential political risks to his company from Gou’s election candidacy.

Gou had tried to mediate talks between the KMT and TPP to work together against the DPP, but the attempt failed after a showdown between opposition party leaders broke out in front of journalists and was broadcast live on Taiwanese television channels.

Meanwhile Gou’s running mate, actress Tammy Lai, who stars in the hit Netflix drama, had to renounce her US citizenship to support him.

As of now he has no plans to get his US passport back.

Gou was also recorded as having no longer served as chairman of Foxconn in 2019 and resigned as a member of the board at the beginning of September. However, he remains the largest shareholder of the iPhone manufacturing company.

Gou, however, is one of Taiwan’s best-known business figures internationally. He disappeared from public view after a Chinese newspaper reported last month that China was investigating Foxconn over taxes and other issues.

[Gambas:Video CNBC]

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