Taiwanese billionaire Terry Gou, the founder of major electronics producer Foxconn, announced on Monday his intention to run for president in next year's election.

"I have decided to join the 2024 presidential race," Gou said at a press conference. He added that he would compete as an independent candidate.

Gou would need to collect 290,000 signatures to compete as an independent in the January vote.

What do we know about Gou?

The tech billionaire's leadership ambitions are not new.

In 2019, he stepped down as Foxconn chief to launch his presidential bid. However, he withdrew after failing to win the nomination of Taiwan's main opposition party, the Kuomintang KMT.

Gou also sought KMT's nomination this year. But the party, which favors close ties with China, instead picked Hou Yu-ih as its candidate. Hou, the mayor of New Taipei City, has recently performed poorly in the polls.

Foxconn is a major contract producer of electronics and ranks among tech giant Apple's biggest suppliers.

rmt/jsi (AFP, Reuters)