Korea faces dilemma over Trade Minister Yoo's WTO bid
Trade Minister Yoo Myun-hee/Yonhap
By Do Je-hae
The government and Cheong Wa Dae are facing a tough decision on how to proceed with Trade Minister Yoo Myung-hee's bid to become the World Trade Organization (WTO) chief.
The WTO announced last week that, based on a preference survey of all delegations of member states, the finalist best poised to attain a consensus to become the next WTO director-general was Yoo's Nigerian rival Ngozi Okonjo-Iweala, a former World Bank economist and three-time minister.
While members from the EU and Africa, which account for a large portion of the 164 member states, have reportedly backed Yoo's rival, the U.S. has publicly supported the Korean trade minister, saying WTO reform must be led by someone with hands-on experience in the field.
According to the relevant ministries, it has been customary for a candidate in the final round of the selection process to drop their bid if member states show a strong preference for another candidate to pave the way for the WTO to reach a consensus-based outcome.
However, the Korean government has not decided whether to backtrack on the bid, especially in light of the U.S.' show of support.
Experts widely believe that U.S. support for Yoo and opposition to the Nigerian candidate is aimed at holding China in check, as China has been increasing its influence among African nations.
Under the circumstances, the Korean government is weighing whether to continue Yoo's bid or withdraw it ― the support of the U.S, which has a strong say in the WTO, could be positive for her bid, but at the same time could bring protests from other member states if the selection process is stalemated.
Some international relations experts say the government should back Yoo as long as there is a chance she can still win.
“Minister Yoo is a fine candidate while South Korea itself embodies all that's good about globalization, demonstrating how economic development and free trade can lead to democracy,” Sean King, senior vice president at Park Strategies, told The Korea Times. “Seoul should continue to back Minister Yoo's candidacy so long as there's still a chance she can win it.”
A formal decision on the next director general will be taken at a general council meeting, Nov. 9, after the U.S. presidential election.
“Depending on the result of the U.S. presidential election, Seoul and Washington may feel pressure to take a consensus-building approach, but should still work together on reforming the WTO,” Leif-Eric Easley, an associate professor of international studies at Ewha Womans University in Seoul, told The Korea Times.
Cheong Wa Dae, which has run a special taskforce to support Yoo, has refrained from commenting on the results of the preference survey.
“The relevant ministries will explain how to deal with the remaining procedures,” a presidential aide told reporters.
President Moon Jae-in has taken a special interest in Yoo's campaign and has contacted his counterparts all over the world by phone and through letters to encourage them to support the trade minister.