South Korean truckers’ strike cost $1.7b in lost shipments; subway workers end protest

Members of Seoul subway workers unions demonstrating during a strike in Seoul, on Nov 30, 2022. PHOTO: EPA-EFE
A train is parked at a subway station in Seoul. Subway workers on Thursday ended a strike that lasted for just a day after they struck a deal with the government. PHOTO: EPA-EFE

SEOUL – A strike by South Korean truckers is estimated to have cost 1.6 trillion won (S$1.7 billion) in lost shipments, the industry ministry said on Thursday.

Disruptions to the country’s supply chain expanded on Thursday, the eighth day of the nationwide strike by thousands of truckers, as the government prepares to order more of them back to work.

Unionised truckers are continuing their strike after failing to reach an agreement in a second round of talks with the government on Wednesday.

Transport Minister Won Hee-ryong raised the pressure on the truckers by warning that the government would expand a back-to-work order for those in the oil refinery sector as some petrol stations run out of fuel, Yonhap News reported.

Meanwhile, workers at South Korea’s major subway operator have ended their one-day walkout after reaching a deal with management on corporate restructuring plans.

Services returned to normal on Thursday, said state-run operator Seoul Metro, a day after the disruptions.

Neither the company nor the Seoul Transit Corporation Labour Union provided details of any agreement, though the union wanted the government to scrap plans to shrink the workforce and hire more staff instead.

While the deal avoids prolonging the headache for Seoul commuters, other strikes threaten to cause more disruption and maintain the pressure on President Yoon Suk-yeol’s administration.

Unionised employees from Korea Railroad plan a nationwide walkout on Friday, demanding a larger workforce, better pay and measures to improve staff safety. BLOOMBERG, REUTERS

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