[Q&A] Yoo Myung-hee "Prolonged WTO Leadership Vacuum... Consultations on Resignation with the US"

Yoo Myung-hee, Head of Trade Negotiations at the Ministry of Trade, Industry and Energy, 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, announced on the 5th that she will withdraw her candidacy for the next Director-General of the World Trade Organization (WTO).

At a briefing held at the Government Seoul Office Building on the same day, Director Yoo said, "As the leadership vacuum at the WTO has been prolonged, the future of the WTO is becoming uncertain," adding, "Therefore, to facilitate consensus among member countries, I have decided to withdraw my candidacy after close consultations with the United States." She continued, "I hope the WTO will quickly recover from the current leadership vacuum and advance key issues such as multilateral trade."

Below is a Q&A with Director Yoo.

▲ What was the reaction of the United States to your intention to withdraw your candidacy for the WTO Director-General position? Has the U.S. clearly shifted its stance to support Nigeria's Ngozi Okonjo-Iweala, and can we expect the next step to be endorsing her candidacy?

= The United States is a member country that has shown strong support for me regarding this matter. They respected my decision to withdraw in order to reach consensus. I had close consultations and agreements with the U.S. The subsequent process will be decided through the WTO General Council, confirming the positions of all member countries including the U.S., and going through the necessary procedures. I will explain the procedures as well.

▲ Are the future procedures and schedule for the WTO Director-General election still undecided? When does the WTO plan to announce them?

= It is expected that special and general councils will be convened to reach consensus among all member countries. After I notify the WTO of my withdrawal, the schedule for the special council will be decided and consensus will be reached.

▲ You cited the need to revitalize the WTO's functions as the reason for your withdrawal decision. Could you please explain in detail?

= The WTO faces reform tasks to enable it to perform its three core roles: rule-making, implementation, and dispute settlement. At the same time, the WTO must address contemporary challenges by facilitating smooth trade and the flow of commerce to contribute to economic recovery and growth in the COVID-19 era. Post-COVID-19 challenges include trade, environment, climate change, and preparing responses for the digital age. Korea plans to play a more active role in these areas.

▲ You received support from the Trump administration. Was there any disagreement with the Biden administration? Will Korea support the Nigerian candidate going forward?

= Both the Trump and Biden administrations have maintained close consultations with the U.S. trade authorities. The Trump administration strongly supported me, and in the subsequent process, I believed that the Director-General election should be finalized early to fully restore multilateral trade. After deciding to withdraw, the U.S. government respected my decision, and we have closely coordinated based on that. Korea's position, like all member countries, will be to seek consensus.

▲ Since there are not many female ministers in the current Moon Jae-in administration, some speculate about the possibility of Director Yoo becoming the next Minister of Trade, Industry and Energy. Have you received any indications?

= It is inappropriate for me to comment on personnel matters. Regardless of the outcome, I am grateful for the support shown by the executive branch, legislature, and the public during the process. The trade authorities will work even harder based on this support. As Korea has grown from one of the poorest countries to a trade powerhouse, I will work harder to play an active role that resonates globally.

▲ What do you think Korea lacked to produce a WTO Director-General, and how should the country prepare for the future?

= Rather than saying what was lacking in the past process, Korea has actively pursued bilateral trade agreements such as Free Trade Agreements (FTAs). Based on this experience, going forward, Korea can serve as a bridge centered on multilateralism and the 163 WTO member countries, strengthening the multilateral trade system between developed and developing countries. I felt high expectations from other countries, and based on this valuable experience, I will actively play a role in multilateral trade to demonstrate middle power leadership in global solidarity and cooperation.

▲ Do you plan to cooperate with the Nigerian candidate in the future? Also, do you have plans to contribute to the WTO?

= I plan to actively cooperate and work with the next Director-General. Korea will participate in the reform process by submitting proposals to strengthen the WTO’s three core functions: implementation, legislation, and adjudication, which are current challenges. Additionally, Korea will propose solutions and actively engage in opinion exchanges and cooperation with major countries to address 21st-century challenges such as environment and digital transformation during this transitional period, contributing to global economic recovery and achieving results.