The head of Foxconn says he's considering a run for president in Taiwan.

Terry Gou is Taiwan's richest man and those comments come a day after Reuters reported the tycoon planned to step down from Foxconn.

The company is the world's top contract manufacturer churning out devices for Apple and other tech companies.

On Tuesday (April 16) he said he'd make the decision to run for top office in 2020 - as soon as possible.

Gou declined to say which party ticket he would run under.

However, the opposition Kuomintang said in a statement Gou had been a party member for 50 years.

Gou would run at a time of high tension between the self-ruled island... and mainland China.

Beijing claims Taiwan as its own and has vowed to bring the island under its control by force if necessary.

On Monday, Chinese bombers and warships conducted drills around the island as a U.S. delegation including former House speaker Paul Ryan were visiting.

(SOUNDBITE) (English) FORMER U.S. SPEAKER OF THE HOUSE OF REPRESENTATIVES, PAUL RYAN, SAYING: "These kinds of things should stop, they are irresponsible and they undermine the framework that has enabled peace and stability and development for decades" The United States has no formal ties with Taiwan but is bound by law to help provide the island with the means to defend itself.

It's also Taiwan's main source of arms. Gou told Reuters Tuesday "We need peace.

We don't need to buy too many weapons." Foxconn's international reach means Gou has met with several world leaders including President Donald Trump.

The news comes three months after Reuters reported Foxconn was reconsidering plans to make LCD panels at a factory in Wisconsin.

Foxconn later said it would still build the $10 billion dollar campus after Trump spoke to Gou.

It's unclear if Gou will now quit as Foxconn's chairman.