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Striking truckers in South Korea are disrupting supply chains.


A truckers’ strike in South Korea has dragged on into a seventh day, forcing the country’s manufacturers to cut production and slow traffic at its ports.

On Monday, the country’s Ministry of Trade, Industry and Energy said the strike had disrupted production and shipments of automobiles, steel and petrochemicals worth $1 .6 trillion won, or about $1.25 billion, in the first six days.

The truckers’ strike is the latest headache for a global supply chain already reeling from Covid lockdowns in China and Russia’s invasion of Ukraine, especially as Korean companies are major suppliers of components and critical materials such as semiconductors and steel.

Hyundai Motors said it was forced to cut production at one of its domestic factories due to the strike. Posco, Korea’s largest steelmaker, said it had halted operations at some facilities because it lacked space to store its products. Hankook Tire said it had to reduce its daily shipments.

The Cargo Truckers’ Solidarity Union said so repeatedly demanded safer terms and reasonable rates, but he had “no choice” but to strike when his demands were not met.

Korea’s transport ministry, which is continuing negotiations with the union, urged truckers to return to work in a statement. The government said it would adopt emergency measures, including the consignment of 100 army cargo trucks and 21 vehicles from other local government agencies to transport goods to major ports.

On Sunday, the Korea Federation of Enterprises issued a joint statement with 30 other industry groups, including semiconductor makers, automakers and others, demanding that truckers end the strike because it was “causing ‘huge damage to manufacturing and trade, the backbone of our economy’. .”

nytimes

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