[News Figures] Foxconn Founder Guo Taiming Challenges Again in Taiwan Presidential Election

Declaration of Independent Candidacy on the 28th... Three Months After Defeat in the People's Party Primary
Four-Way Race Expected Including Ruling Minjindang... Possibility of Opposition Grand Unification Remains
Concerns Over Pressure on China Business... Mention of Apple and Tesla, "It Will Be Difficult"

Guo Taiming, the founder of Foxconn, declared on the 28th that he will run as an independent candidate in Taiwan's presidential election next January. Amid growing risks of a Chinese invasion of Taiwan, the pro-China-leaning founder Guo raised his voice, saying, "The era of entrepreneurial governance has arrived," and vowed, "Taiwan will never become a second Ukraine." Guo emphasized that it is virtually impossible for the Chinese government to pressure him regarding the business and assets of Foxconn, which he founded.

Guo Taiming, Foxconn founder, declaring candidacy for Taiwan presidential election on the 28th
[Photo by Reuters]

◆ 'Presidential Candidate Retaker' Guo Taiming... Emphasizes Regime Judgment Theory

According to Taiwan's CNA and others, Guo announced his intention at a press conference held in the Zhang Longpa Foundation building facing the Presidential Office Building in Taiwan on the morning of the same day. This declaration came three months after losing the Kuomintang's primary for the presidential candidate of the main opposition party in May, now running as an independent.

Guo said, "Over the past seven years, Taiwan has witnessed declines in various areas such as its prosperous economy, national defense, and diplomacy," and stressed the need to overthrow the ruling Democratic Progressive Party (DPP). He added, "Their policies are full of mistakes," emphasizing the era of entrepreneurial governance, highlighting his background as the founder of Foxconn.

In particular, Guo stated that if given four years, he would bring 50 years of peace to the Taiwan Strait. This remark was made in awareness of the growing concerns over a Chinese invasion of Taiwan. He added, amid the Taiwan Strait and U.S.-China conflicts, "Taiwan must not become Ukraine and will absolutely not become a second Ukraine."

With Guo's candidacy, the next presidential election is expected to be a four-way race among the ruling DPP's presidential candidate and Vice President Lai Ching-te, who is also the DPP chairman; the main opposition Kuomintang's presidential candidate Hou You-yi, mayor of New Taipei City; and the third-party People's Party presidential candidate Ko Wen-je, chairman of the People's Party.

[Image source=Reuters Yonhap News]

According to a recent poll conducted by the Taiwan Public Opinion Foundation, DPP Vice President Lai Ching-te leads with 33.9%, followed by People's Party Chairman Ko Wen-je at 20.5%, New Taipei City Mayor Hou You-yi at 18%, and Guo Taiming at 15.2% among opposition candidates.

Bloomberg reported that Guo's candidacy is expected to intensify competition among opposition candidates. However, Guo left room for a grand opposition coalition for regime change, stating that only opposition unity can achieve a change in government.

This is not Guo's first candidacy. He is a "presidential candidate retaker." Ahead of the 2020 presidential election, he stepped down as Foxconn chairman and abruptly joined the main opposition Kuomintang. However, after losing the party's primary, he insisted on running independently but eventually gave up and announced he would not run.

◆ "China Cannot Halt Foxconn Supply Chain Linked to Apple and Tesla"

Guo's competitiveness lies in his assets. Born in 1950, he is the founder of Foxconn, which assembles and manufactures major Apple products including the iPhone. According to the Bloomberg Billionaires Index, his net worth is $69.7 billion (approximately 92.2 trillion KRW), ranking him 333rd among the world's wealthiest. Guo is Taiwan's richest person and is known for his impulsive nature, earning him the nickname "Taiwan's Trump."

Witnessing Taiwan's export-driven economic boom in his twenties, Guo started his business. Founded in 1974, he began making plastic parts for TVs in a warehouse on the outskirts of Taipei, and in the 1980s, he traveled across the United States to secure clients. In 1988, he built his first factory in Shenzhen, mainland China, and later expanded factories within China. This has led to his perception as a pro-China figure.

[Image source=Reuters Yonhap News]

Foxconn currently operates factories and subsidiaries in over 100 countries including Taiwan, China, Japan, Southeast Asia, the United States, and Europe, and has contracts with Apple, IBM, Cisco, Nokia, Sony, and others.

At the press conference, Guo responded to concerns about vulnerability to Chinese government pressure due to assets in China, saying, "If the Chinese Communist Party regime threatens to confiscate company assets in China, I would say 'go ahead'." He declared, "For the peace of Taiwan, I am willing to forfeit my personal assets."

He pointed out that if the Chinese Communist Party government confiscates Foxconn's assets, it would inevitably harm major global pension funds. He also mentioned Foxconn's key clients such as Apple, Tesla, Amazon, and Nvidia, stating that if production is halted due to political pressure, the global supply chain would be disrupted, and China would have to explain this situation.

Following Guo's announcement, Foxconn issued a separate statement saying, "Guo Taiming handed over management rights four years ago and no longer participates in the company's daily operations," adding, "This is a good example of management succession in a global company, and the company will move to the next stage of business based on the foundation Guo established."

Taiwan's next presidential election will be held on January 13 next year, alongside legislative elections, and the winner will take office on May 20, succeeding current President Tsai Ing-wen.