"Yoo Myung-hee Advances to WTO Director-General Final Round"…First Korean Leader Possible (Summary)

A Two-Way Race with Former Nigerian Finance and Foreign Minister Candidate... First Female WTO Chief Confirmed
Campaigning Highlighting 'Trade Expert' Experience... Decision Expected by the 7th of Next Month

Yoo Myung-hee, Head of Trade Negotiations at the Ministry of Trade, Industry and Energy of Korea (left), and Ngozi Okonjo-Iweala, former Nigerian Minister of Finance and Foreign Affairs, who are reported to have advanced to the final round of the World Trade Organization (WTO) Director-General election.
[Image source=Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Yoo Myung-hee, the head of the Trade Negotiations Department at the Ministry of Trade, Industry and Energy, who challenged the position of Director-General of the World Trade Organization (WTO), has advanced to the runoff election. The race has been narrowed down to a two-way contest with the Nigerian candidate. If Yoo is elected, she will become the first Korean and the first female Director-General since the establishment of the WTO.

On the 7th (local time), Bloomberg News and others reported, citing sources, that Yoo and Nigeria’s Ngozi Okonjo-Iweala advanced to the final round. With two female candidates advancing to the final round, the first female Director-General in the 25-year history of the WTO is virtually confirmed. The official announcement is expected to be made at an informal ambassador-level meeting of the WTO on the morning of the 8th.

Since July, Yoo has actively campaigned by visiting countries such as Switzerland and the United States. She began her public service career after passing the 35th Administrative Examination in 1991 and has been a trade specialist throughout. She has experience participating as a working-level negotiator in talks with countries including the United States and China at the Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs and Trade. Yoo is reported to be persuading key figures from various countries that her experience makes her the most suitable candidate for WTO Director-General.

President Moon Jae-in has also been actively supporting Yoo by urging support during phone calls with world leaders such as German Chancellor Angela Merkel and Russian President Vladimir Putin. Previously, former Minister of Commerce Kim Cheol-soo in 1995 and former head of the Trade Negotiations Department Park Tae-ho in 2013 ran for WTO Director-General but failed to pass the final hurdle.

The runoff opponent, Okonjo-Iweala, has served as Nigeria’s Minister of Finance and Minister of Foreign Affairs. She has also worked at the World Bank (WB) for 25 years, giving her high international recognition. In 2012, she ran for the presidency of the WB but was defeated by former President Kim Yong. Since no African has ever served as WTO Director-General, she is considered a strong candidate in this election. The runoff vote is expected to be challenging for Yoo as well.

The WTO Secretariat will conduct the final round from late this month until the 6th of next month. Bloomberg reported that the election of the Director-General will be decided before the 7th of the same month. In the final round, the 164 member countries can express their preference for only one candidate.

This content was produced with the assistance of AI translation services.