Business tycoon Terry Gou drops out of presidential race

Taipei, Nov. 24 (CNA) Business tycoon Terry Gou (郭台銘) announced his withdrawal from Taiwan's 2024 presidential election on Friday afternoon, hours before the deadline to formally register candidacies with the country's electoral authorities.

Gou, founder of manufacturing giant Hon Hai Precision Industry Co. (Foxconn), confirmed he was dropping out of the race in a statement issued via social media at around 2 p.m.

He, however, did not provide a reason, saying only that such a decision was "for the future of the Republic of China."

Gou's running mate Tammy Lai (賴佩霞) also said in a separate social media post that the duo "will not appear on the ballot in 2024."