Yoo Myung-hee Withdraws Candidacy for WTO Director-General

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kwon Haeyoung] Yoo Myung-hee, head of the Trade Negotiations Department at the Ministry of Trade, Industry and Energy, is withdrawing her candidacy for the next Director-General of the World Trade Organization (WTO). She aimed for an 'upset' against the Nigerian candidate supported by China and Europe, backed by the former Trump administration of the United States, but ultimately decided to withdraw as the tide changed with the inauguration of the Joe Biden administration.

Yoo announced on the 5th that she plans to notify the WTO of her withdrawal from the Director-General candidacy.

The WTO conducted a total of three rounds of consultations among member countries in the second half of last year to select the Director-General. Initially, Nigerian candidate Ngozi Okonjo-Iweala was expected to win easily, having secured support from over 100 of the 163 member countries. However, the former Trump administration's support for Yoo as the next Director-General changed the dynamics, leading to a temporary suspension of the Director-General election process. This is because all decisions within the WTO require unanimous consent among member countries, and if a particular country opposes, the appointment of the Director-General becomes impossible.

Meanwhile, the tide shifted with the election of Joe Biden, who emphasizes multilateralism, as the President of the United States. Yoo missed the timing to withdraw her candidacy for the WTO Director-General position, which had become a burden not only for herself but also for South Korean diplomacy.

The Ministry of Trade, Industry and Energy stated, "Yoo has been consulting with major countries including the United States to reach a consensus among WTO member countries on the next Director-General," and added, "Considering various issues comprehensively, including the need to revitalize WTO functions, she decided to withdraw her candidacy."

The future procedures and schedule related to the selection of the next WTO Director-General are expected to be announced after the WTO General Council Chair consults with member countries.

The Ministry emphasized, "Our government will continue to contribute in various ways to the restoration and strengthening of the multilateral trading system as a responsible trading power," and added, "In particular, we will contribute to playing a leading role in resolving global issues including WTO reform, the digital economy, and climate change (environment)."

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