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European Union backs Ngozi Okonjo-Iweala for WTO role

The European Union has endorsed former Nigerian finance minister Ngozi Okonjo-Iweala as the next director-general of the World Trade Organisation, Bloomberg reported. The business news outlet cited anonymous officials familiar with the matter that all the 27 EU member countries agreed on Monday in Brussels to support Mrs. Okonjo-Iweala. Bloomberg also reported that the United States has decided to back Yoo Myung-hee, South Korea’s trade minister, for the role. The position has been fiercely contested amongst candidates of different countries since Roberto Azevedo resigned in August. Last month, Okonjo-Iweala and Myung-hee were selected as the last two candidates in the contest. The EU’s endorsement is seen as a significant boost for Okonjo-Iweala’s candidacy, with the final winner expected...

South Korea’s unification minister visits estuary to renew commitment to inter-Korean cooperation

Unification Minister Kim Yeon-chul is to visit an estuary of the Han River near the border with North Korea on Wednesday in an effort to renew South Korea’s commitment to jointly using the waterway with the communist nation. Under a military agreement signed at a 2018 summit between President Moon Jae-in and North Korean leader Kim Jong-un, the two sides agreed on the joint use of the Han River estuary along their western border and conducted joint waterway research. But the project has stalled since the no-deal summit between the North and the United States in February last year. The unification minister’s visit to the estuary is seen as aimed at sending a message to the North that it remains committed to the project. “The visit has been arranged so that (the minister) can see for himself...