AmCham endorses Yoo Myung-hee for WTO chief

The American Chamber of Commerce in Korea said Monday it endorses Trade Minister Yoo Myung-hee for the position of director general of the World Trade Organization.

“Minister Yoo has proven herself to be a strong and principled leader as well as a champion of free and fair trade during a time of historic challenges for international trade and the global economy,” the organization said in a released statement.

“We have no doubt that she is ideally equipped to realize the vision of a resilient, relevant and responsive WTO that can take the lead in achieving the post-pandemic global economic revival.”

The organization said Yoo successfully renegotiated and oversaw the implementation of the “gold standard” free trade agreement in the amendment of the Korea-US deal that began in 2017.

“In the process, she achieved greater levels of market access while adeptly responding to the sensitivities of political and economic stakeholders in both countries.”

AmCham said Minister Yoo’s election as director general of the WTO would serve to significantly advance the US-Korea bilateral partnership.

“Korea has been a key partner in achieving the vision of a free, fair and rules-based global trade order that the US has pursued since World War II. Minister Yoo’s campaign for WTO Director-General forcefully articulates these principles and sets forth a clear blueprint to put them into action,” the statement said. 

By Shin Ji-hye (shinjh@heraldcorp.com)