S. Korea vows to work with new WTO chief to strengthen multilateral trade system

South Korea will work closely with new World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala to strengthen the multilateral trade system, the foreign ministry said Tuesday.

The former finance minister of Nigeria was confirmed as the new head of the world trade body on Monday. Her rival, South Korean Trade Minister Yoo Myung-hee, withdrew her bid from the leadership race early this month.

“The government has contributed constructively to drawing consensus in the selection process for the new director-general,” a ministry official said.

“We will cooperate closely with the new director-general to strengthen the multilateral trade system centered on the WTO,” the official said.

Yoo and Okonjo-Iweala were the two finalists in the race. The WTO said in October that Okonjo-Iweala had garnered more support than Yoo from the WTO’s 164 member states.