[Image source=Yonhap News]

[Image source=Yonhap News]

View original image


[Asia Economy Reporter Moon Chaeseok] Yoo Myung-hee, the Chief Negotiator of the Ministry of Trade, Industry and Energy, has advanced to the final round of the World Trade Organization (WTO) Director-General election.


The Ministry of Trade, Industry and Energy announced that David Walker, Chair of the WTO General Council in Geneva, Switzerland, officially announced Yoo’s advancement to the final round at an informal ambassador-level meeting held at 11 a.m. local time on the 8th.


In the final round, she is expected to compete against Ngozi Okonjo-Iweala, former Finance Minister of Nigeria.


President Moon and Political Circles Provide Comprehensive Support to Chief Negotiator Yoo
[Image source=Yonhap News]

[Image source=Yonhap News]

View original image


The government stated that this achievement was made possible thanks to President Moon Jae-in’s summit diplomacy and the support from related ministries and political figures.


President Moon held phone calls with heads of state from WTO member countries such as Germany, Russia, and Brazil, and sent letters of support to key leaders.


Park Byeong-seug, Speaker of the National Assembly, Kang Kyung-wha, Minister of Foreign Affairs, and Song Young-gil, Chair of the Foreign Affairs and Unification Committee, also supported Yoo’s election campaign through phone consultations, meetings, letters, and on-site visits.


Despite the COVID-19 pandemic, Chief Negotiator Yoo visited major overseas locations including Geneva and the United States four times since July to conduct local lobbying activities.


Support for Yoo has been provided through a pan-governmental joint task force (TF) led by the Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs, as well as through Korean diplomatic missions worldwide including the Permanent Mission to the WTO in Geneva.


"Overcoming Regional and Historical Ties by Highlighting Expertise"
Countries in green are WTO members. (Photo by World Trade Organization website)

Countries in green are WTO members. (Photo by World Trade Organization website)

View original image


The Ministry of Trade, Industry and Energy noted that there were concerns that in the second round, support would consolidate based on regional or historical ties such as Africa and the Commonwealth, which could work against Chief Negotiator Yoo.


However, her expertise in trade, political capabilities, and the elevated national status due to Korea’s successful COVID-19 response dispelled such concerns and garnered high evaluations.


The ministry reported that she received balanced support across regions including Europe, Latin America, Asia-Pacific, and Central Asia.


The WTO plans to reach a consensus on the next Director-General by member consultations by the 7th of next month (local time). Chair Walker will announce a detailed schedule after consultations with member states.


"Competition Is More Between Individual Countries Than Regions... Behind-the-Scenes Support Must Not Be Spared"

Experts say the competition has now shifted from the individual candidate to the capabilities of each government. While Chief Negotiator Yoo’s personal competitiveness is important, behind-the-scenes efforts to persuade other governments with voting rights must bear fruit for her to win.


Professor Jeong In-kyo of Inha University’s Department of International Trade said, "From now on, political logic driven by international politics will influence voting. It is necessary to secure as many votes as possible from East Asia, the Americas, and U.S. allies, while dispersing votes in Europe and Africa where candidate Okonjo-Iweala is strong."


There are also opinions that Yoo’s trade expertise will work to her advantage in the final round.


African candidates have pledged to address African agricultural subsidies through the Special and Differential Treatment (SDT), while Yoo is said to have appealed that she is the right person to reasonably mediate conflicts by applying WTO rules among the U.S., China, and the EU.


Professor Heo Yoon of Sogang University Graduate School of International Studies said, "Candidate Okonjo-Iweala is trying to enforce an ‘inclusive trade policy’ between developed and developing countries under protectionism through the SDT principle, while Chief Negotiator Yoo is appealing that she has the capability to resolve issues such as Chinese state-owned enterprises, subsidies, and technology theft in the U.S.-China trade war at the WTO level based on WTO rules. Yoo’s rationale and expertise seem to have a greater effect in persuading member countries than expected," he said.


Source: Ministry of Trade, Industry and Energy

Source: Ministry of Trade, Industry and Energy

View original image


The government announced that it will continue pan-governmental support and efforts centered on the joint TF throughout the remaining election period.



In the final round, the election will proceed by eliminating candidates with low consensus potential to narrow down to a single candidate. The WTO General Council will then adopt the single candidate. If consensus cannot be reached, an exceptional vote will be held.


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

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

Today’s Briefing