Breaking: Coast is now clear for Okonjo-Iweala as South Korea’s WTO Candidate withdraws

Yoo Myung-hee, the South Korean candidate for the World Trade Organisation (WTO) director-general position, has officially withdrawn her candidacy.

Her withdrawal from the race means that, Nigeria’s Ngozi Okonjo-Iweala is now the sole candidate left.

Yoo Myung-hee is South Korea’s trade minister and was until now, candidate for the top job at the WTO following the resignation of Roberto Azevedo.

The statement tweeted reads, “Korea’s Trade Minister Yoo Myung-hee announced on February 5 (local time) that she would withdraw her candidacy for the next World Trade Organization (WTO) Director-General. Korea will continue to work with responsibility for the restoration of the multilateral trading system”.

Korea's Trade Minister Yoo Myung-hee announced on February 5 (local time) that she would withdraw her candidacy for the next World Trade Organization (WTO) Director-General. Korea will continue to work with responsibility for the restoration of the multilateral trading system.

— MOTIE – Korea (@MOTIEKoreaEng) February 5, 2021

In 2020, Ngozi Okonjo-Iweala had secured the popular vote by a wide margin on October 28 but was not named DG because the US opposed her candidacy.

After the October 28, 2020, meeting, the WTO also said Okonjo-Iweala had the best chance of getting a consensus.

The US had said it favoured Yoo over Okonjo-Iweala because WTO is in dire need of reform and must be “led by someone with real, hands-on experience in the field”.