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| South Korean Trade Minister Yoo Myun-hee departs for Washington, D.C., from Incheon International Airport, Sept. 15. Yonhap |
By Do Je-hae
South Korean trade minister Yoo Myung-hee has joined a select group of candidates in the second round of voting for the next World Trade Organization (WTO) chief, according to the Ministry of Foreign Affairs, Friday.
She is among five candidates that passed the first round of the competition for the job which began in July to find a successor to the current WTO head Roberto Azevedo, who announced plans to resign early.
"Eight candidates competed from July to early September, and candidates from three countries, Mexico, Egypt and Moldova were eliminated in the first round. Candidates from five countries ― Korea, Nigeria, Kenya, Saudi Arabia and Britain have entered the second round," the ministry said in a statement.
Only two of the five candidates will make it to the final round after the second round of voting among member states from Sept. 25 through Oct. 6. Yoo's immediate challenge now is to overcome the grueling competition to become one of the two in this round.
"Most of the member countries have shown support for the trade minister's expertise accumulated during her 25 years of experience in the field; the trust and leadership acquired during a wide range of successful negotiations with developing countries; and Korea's experience in economic development through free trade," the ministry statement said.
The WTO chief election comes amid growing pressure for the organization to increase its relevance, in addition to tackling complex challenges, in particular the mounting trade disputes arising from the U.S.-China rivalry.
"We need a new director-general who can deliver successful outcomes," Yoo said in a CNN interview last week. "Throughout my career, I have negotiated, finalized and implemented numerous trade deals not only with major countries such as the U.S, China and EU members, but all also with countries spanning all levels of development."
During the CNN interview, she showed confidence and resolve to turn the COVID-19 crisis into an opportunity for the WTO. "Historically speaking, when we had global crisis, that actually led to a transformation in global governance and that could be the moment of opportunity for another reform," Yoo said. "And in some sense, this COVID-19 crisis has forced us to reflect upon what is needed from multilateral negotiating organizations and what should be done. So this could be the moment of opportunity for WTO reform and improvement."
All-out support
Cheong Wae Dae and relevant ministries have exerted all-out support for the election of Yoo as the next WTO leader.
The government established a taskforce, led by Kim Sang-jo, the senior presidential secretary for policy, to support the trade minister. "Yoo's advancement into the second round is a result of her qualifications and expertise as an incumbent trade minister, Korea's heightened global status in light of its response to the COVID-19 pandemic, and cooperation and support from the government taskforce," the foreign ministry said.
Since Yoo launched her bid, President Moon Jae-in has actively promoted her as the most qualified candidate to lead WTO reform and strengthen the multilateral trade system during his phone calls to the leaders of New Zealand and Australia last month.
Yoo is the first woman to hold the post of trade minister in Korea and has long been considered one of the country's most recognized negotiators in free trade deals.
If she wins the election, she will be the first Korean to head the global trade body, in addition to being the first woman to take the post. Korea has had two previous candidates for the top WTO job.
Yoo entered the civil service in 1992 and has also served at the Ministry of Foreign Affairs and Trade and Cheong Wa Dae. She holds a J.D. from Vanderbilt University Law School.
