Foxconn chairman Terry Gou considers running for Taiwan’s top political office

The plan could have big implications for Foxconn’s operation in China.

Foxconn founder and chairman Terry Gou, the richest man in Taiwan, said on Tuesday that he is considering running for public office in the Taiwanese election next year, a move that could lead to him stepping back from the company’s daily management.

“If I am to make a decision, I will participate in the KMT primary,” Guo said on the sideline of a Tuesday event hosted by the American Institute in Taiwan, according to Bloomberg.

Gou and Foxconn have both denied the self-made billionaire’s plan to step down “in the coming months,” which was reported by Reuters yesterday. But if the tech mogul were to put his hat in the ring and seek nomination from the Nationalist Party, he would be effectively withdrawing from Foxconn’s operation.

The potential leadership run could also have big implications for Foxconn’s business in China because Beijing does not recognize the legitimacy of the Taiwanese government. Instead, China sees Taiwan as an inalienable part of its territory. Should Gou be nominated, Foxconn, which now has more than 30 factory compounds in the mainland, may face political risks.