South Korea’s first female trade minister bids for WTO top job By Reuters

Nokian Tyres names Jukka Moisio as CEO By Reuters

SEOUL (Reuters) – South Korea’s trade minister Yoo Myung-hee on Wednesday announced her bid to become the next director-general of the World Trade Organization (WTO), aiming to be the first female leader at the WTO.

The nominations process began earlier this month to find a successor to Brazilian Roberto Azevedo, who will vacate the post a year early at the end of August.

“The international community is increasingly becoming more protectionist…in order for the WTO to overcome the current crisis, the role of a middle power to mediate conflicts among member states is important,” Yoo said in a statement ahead of a press conference.

“Korea will be able to serve as a bridge, based on its growth experience through trade.”

Yoo is the first woman to hold the position of South Korea’s trade minister since it was created in 1948, and if selected, would be the first female WTO director-general.

Yoo, 53, led South Korea’s renegotiation of a trade deal with the United States and worked on South Korea’s trade pacts with Singapore and ASEAN.

Earlier this month, South Korea resumed a WTO dispute process with Japan over export curbs on some high-tech materials, saying talks to resolve the dispute, born out of a deterioration in bilateral relations last year, had failed to make progress.

South Korea relies much on foreign trade, with exports and imports taking up 63.7% of its 2019 nominal GDP, according to Korea International Trade Association data.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.