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S. Korea's trade minister among the 2 finalists for new WTO chief Updated: 2020-10-08 13:25:36 KST

The final two candidates running for the World Trade Organization's new chief have reportedly been selected.
And one of them is South Korea's trade minister Yoo-Myung hee, according to Bloomberg sources.
The Geneva-based trade body plans to formally announce the results to its delegates at its closed meeting Thursday morning local time.
During her campaign, Yoo vowed to focus on rebuilding trust in the multilateral trade system by making it (quote) more "relevant, resilient and responsive" if she becomes the new WTO leader.

"WTO needs to be more responsive to global challenges and contingencies for the benefit of all its members."

Also on the shortlist with Yoo is Nigeria's Ngozi Okonjo-Iweala, a former managing director of the World Bank who also served as her country’s finance and foreign affairs minister.
The two candidates, both female means the WTO will be led by a woman for the first time in its 25 year history.
If Yoo gets the nod, she will also be the first South Korean in the position.
The third and final phase of the consultation process will begin later this month,with the result likely before November seventh.
If WTO members are unable to select a leader by consensus, a vote requiring a qualified majority could be held as a last resort, which would be an unprecedented development for the organization.
Choi Jeong-yoon, Arirang News.
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