South Korean candidate for the World Trade Organisation director-general position, Yoo Myung-hee has withdrawn her candidacy.
The announcement was made on Friday morning by the Republic of Korea Ministry of Trade, Industry and Energy via its official twitter handle.
The tweet 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.”
Ngozi Okonjo-Iweala on October 28, 2020 secured the popular vote by a wide margin but was not named DG because the US led by former president Donald Trump opposed her candidacy favouring Yoo Myung-hee.
With Myung-hee’s withdrawal, Okonjo-Iweala is now the only remaining candidate for the top trade job, thereby becoming the first female director general of the 26 years old trade organisation.