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Trade Minister Yoo retires after successfully completing slew of trade deals

All News 16:08 August 06, 2021

By Kang Yoon-seung

SEOUL, Aug. 6 (Yonhap) -- Trade Minister Yoo Myung-hee retired Friday after serving in the public sector for 29 years.

She is succeeded by Yeo Han-koo, who served as the presidential secretary for New Southern and New Northern policies after taking various positions at the trade ministry.

Since taking office in 2019, Yoo has spearheaded negotiations of a handful of trade deals, including those with Indonesia and Cambodia, which currently await official implementation.

This photo provided by the Ministry of Trade, Industry and Energy on Aug. 3, 2021, shows the outgoing Trade Minister Yoo Myung-hee. (PHOTO NOT FOR SALE) (Yonhap)

"South Korea was able to make various achievements despite the challenges, including Japan's export curbs against South Korea, along with the protectionist policies from the U.S.," Yoo said during her departure speech.

South Korea also signed the Regional Comprehensive Economic Partnership (RCEP), while she was in office.

Yoo was one of the two finalists in the race to take the throne at the World Trade Organization (WTO), before she exited the race in March after her Nigerian rival earned more support.

Yoo was the first high-ranking female official at the trade ministry.


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