VOA News reported that truckers in South Korea ended an eight-day strike that caused major disruptions to domestic production and cargo transport, their union and the government announced after negotiations on 14 June 2022. Cargo Truckers Solidarity said “During their fifth round of negotiations on Tuesday, representatives of the truckers and Transport Ministry officials reached a deal on ending the strike as the ministry agreed to seek to extend the current rules on minimum wage guarantees and consider increasing fuel subsidies for truckers. The union said drivers will immediately return to work.”Under the agreement, the transport ministry will provide subsidies to alleviate pressure on surging fuel costs. The union was demanding the extension of the freight rate system to help drivers cope with rising fuel prices. The Safe Trucking Freight Rates System was introduced in 2020 for a three-year run, aimed at preventing dangerous-driving practices, such as cargo overload, and guaranteeing minimum rates for truckers. The system was due to expire this year.The Ministry of Trade, Industry and Energy said that the first six days of the strike had caused an estimated KWR 1.6 trillion (USD 1.2 billion) in damages. The strike’s damage has been largely limited to domestic industries, though experts say a prolonged strike could have undermined global supply chains already hit by Russia’s invasion of Ukraine and China’s COVID-19 restrictions. There have been no reports of substantial disruptions of key South Korean export items such as semiconductors and automobiles
VOA News reported that truckers in South Korea ended an eight-day strike that caused major disruptions to domestic production and cargo transport, their union and the government announced after negotiations on 14 June 2022. Cargo Truckers Solidarity said “During their fifth round of negotiations on Tuesday, representatives of the truckers and Transport Ministry officials reached a deal on ending the strike as the ministry agreed to seek to extend the current rules on minimum wage guarantees and consider increasing fuel subsidies for truckers. The union said drivers will immediately return to work.”Under the agreement, the transport ministry will provide subsidies to alleviate pressure on surging fuel costs. The union was demanding the extension of the freight rate system to help drivers cope with rising fuel prices. The Safe Trucking Freight Rates System was introduced in 2020 for a three-year run, aimed at preventing dangerous-driving practices, such as cargo overload, and guaranteeing minimum rates for truckers. The system was due to expire this year.The Ministry of Trade, Industry and Energy said that the first six days of the strike had caused an estimated KWR 1.6 trillion (USD 1.2 billion) in damages. The strike’s damage has been largely limited to domestic industries, though experts say a prolonged strike could have undermined global supply chains already hit by Russia’s invasion of Ukraine and China’s COVID-19 restrictions. There have been no reports of substantial disruptions of key South Korean export items such as semiconductors and automobiles
