TAIPEI (TVBS News) — Foxconn founder Terry Gou announced Friday (Nov. 24) that he is stepping out of the election race, a move reported by foreign media as likely smoothing the path for the ruling Democratic Progressive Party (DPP) to secure re-election and bringing relief to both Foxconn and Apple Inc.
Sources familiar with the situation noted that Gou's withdrawal has reassured Foxconn's leadership team. Meanwhile, tech news outlet "9to5mac" suggested that Gou's potential candidacy could have posed complications for Apple.
Gou, together with actress Tammy Lai, had secured the necessary public endorsements to qualify for the race, amassing over 1.01 million signatures. During the campaign process, judicial authorities investigated multiple bribery and data-buying cases, but Terry Gou's office has declared that these allegations are not related to them.
After failed collaborations between the Kuomintang (KMT) and Taiwan People's Party (TPP) parties, which resulted in each promoting their own candidates, Gou chose to withdraw, stating that his decision was made for the future of the Republic of China (Taiwan) and to facilitate a political power transition.
Gou's support in previous polls was less than 10 percent, with his efforts to foster cooperation among the opposition and his positions coming under scrutiny.
Concern had arisen regarding Foxconn's operations in China, as its factories were subject to tax investigations.
Ultimately, the Chinese government imposed only a minor penalty, easing concerns within Foxconn.