Taipei/Hong Kong CNN —Terry Gou, the billionaire founder of major Apple supplier Foxconn, withdrew from the race to become Taiwan’s next president on Friday, just hours before the deadline to formally register as a candidate.
“I have never yielded in the battlefield of international business,” Gou said in a statement, without providing a specific reason for the retreat.
“For the future of the Republic of China, choosing to yield is all the love I can give to my homeland,” Gou added, referencing Taiwan’s official name.
Gou founded Foxconn, established as Hon Hai Precision Industry in Taiwan, in 1974.
Shortly after he announced his bid, Chinese state media reported that Foxconn was under investigation by authorities in China over land use and tax concerns.
Persons:
Hong Kong CNN — Terry Gou, Taiwan’s, “, ” Gou, Gou’s, Tammy Lai, ”, Hou Yu, Ko Wen, Gou, Foxconn, wouldn’t, Hai
Organizations:
Hong Kong CNN, Apple, Foxconn, ih, Kuomintang, Taiwan People’s Party, Democratic Progressive Party, Hai Precision Industry, Communist, CNN, for Public Credit
Locations:
Taipei, Hong Kong, Republic of China, Taiwan, China, Beijing, Wuhan