FKCCI "Welcome Yoo Myung-hee's Advancement to WTO Director-General Election Final Round"

"Will Do Our Best to Support Using the FKI Global Network"

[Asia Economy Reporter Ki-min Lee] The Federation of Korean Industries (FKI) has expressed its welcome for Yoo Myung-hee, head of the Trade Negotiations Division at the Ministry of Trade, Industry and Energy, advancing to the final round of the World Trade Organization (WTO) Director-General election.

On the afternoon of the 8th, the FKI issued a statement titled "Welcome Yoo Myung-hee's Advancement to the WTO Director-General Final Round," expressing its support.

The FKI stated, "The spread of protectionism due to the novel coronavirus disease (COVID-19) is placing an even greater burden on the Korean economy, which is highly dependent on foreign trade, making the role of the WTO more important than ever. We hope that our government will do its utmost to restore the global free trade order through WTO reform and to support the election of Director-General Yoo Myung-hee."

It added, "The FKI will also do its best to support Director-General Yoo's final election by utilizing its global network spanning the world."

Earlier, David Walker, Chair of the WTO General Council, officially announced at an informal ambassador-level meeting on the 8th (local time) that Director-General Yoo had advanced to the final round of the WTO Director-General election.

Five candidates competed from the 24th of last month to the 6th of this month, and in the second round, Director-General Yoo and Nigeria's Ngozi Okonjo-Iweala are set to face off in the final round.

The WTO plans to conduct a final preference survey among the two candidates who passed the second round and, before the election deadline of November 7, will select the next Director-General through a consensus-building process.

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