Billionaire founder of Foxconn, Terry Gou, has announced his entry into the race to become Taiwan’s next president as an independent candidate in the 2024 elections. Gou, who stepped down as Foxconn chief in 2019, previously made a presidential bid but failed to secure the nomination from the Kuomintang KMT party, which traditionally favors close ties with China.
Gou has spent the last few weeks touring Taiwan and holding campaign-like rallies, fueling speculation that he intended to run as an independent candidate. His main focus has been on the need to avoid conflict with China, which claims Taiwan as part of its territory, by removing the ruling Democratic Progressive Party (DPP) from office.
During his pre-campaign events, Gou emphasized that under the DPP’s rule, Taiwan has been led towards the brink of war internationally, while domestically, their policies have been plagued with errors. He stated that the only way to bring peace and avoid war with China is to vote the DPP out of power.
To qualify as an independent candidate, Gou must gather approximately 300,000 voter signatures by November 2, which will then be reviewed by the Central Election Commission and the results announced by November 14.
Current Taiwan Vice President William Lai, representing the ruling DPP, is considered the favorite to win the election based on leading opinion polls. However, former Taipei mayor Ko Wen-je of the Taiwan People’s Party has been running second in the polls, with Hou Yu-ih, the KMT’s candidate, trailing in third place.
In a call for unity, Gou urged Ko and Hou to meet with him and discuss the possibility of joining forces to compete against the DPP in the election. However, the KMT expressed disappointment with Gou’s bid and requested his support for their candidate, Hou.
China has expressed concern over Lai due to his previous comments advocating for Taiwan’s independence, which is a sensitive issue for Beijing. The DPP supports Taiwan’s separate identity from China, but the government has repeatedly offered talks with China, only to be rebuffed.
The election takes place amid escalating tensions between Taiwan and China, with China frequently conducting military exercises near the island in an attempt to assert its sovereignty claims.
Questions have been raised about Gou’s potential conflict of interest as a major shareholder of Foxconn, a company with significant investments in China. In response, Gou stated that he is willing to sacrifice his personal assets in China in the event of a Chinese attack, emphasizing that he has never been under the control of the People’s Republic of China and does not follow their instructions.
As the race for Taiwan’s presidency unfolds, it remains to be seen whether Gou’s bid as an independent candidate will gain the necessary support to challenge the front-runners from the DPP and KMT. The outcome of the election will have significant implications for Taiwan’s relationship with China and the future of the Taiwan Strait.
