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SOUTH KOREA TRUCKERS GO ON STRIKE AT PORTS DUE TO THE SURGE OF FUEL PRICES

Truck drivers unite in protest across South Korea slowing major ports and container depots. This strike comes at a time when the global supply chain struggles to recover from Russia’s invasion and lockdowns in Chinese cities. Although not all the nations drivers are choosing to participate, the rallies threaten to slow the pace of South Korean exports of consumer goods if they continue for weeks, local media said.

Busan is the seventh-largest port in the world, handling 23 million container boxes last year, according to Korea’s Ministry of Oceans and Fisheries. “The impact of the strike is already being felt at ports, petrochemical complexes, and other logistics hubs,” said the ITF, who is associated with the protest participants.

The union updated on its website Wednesday June 8th, that almost all trucking activity at petrochemical complexes in Ulsan, Yeosu and Daesan has stopped. Posco said it is currently struggling to ship a total of 35,000 tons of steel from its two plants, which is down from its daily normal of 100,000 tons. According to the ITF strikes are taking place at steel ports Pohang and Gwangyang.

Koh, Ann, and Heejin Kim. “South Korea Truckers Go on Strike at Ports as Fuel Costs Soar.” Bloomberg.com, Bloomberg, 7 June 2022, https://www.bloomberg.com/news/articles/2022-06-07/south-korea-truckers-go-on-strike-at-ports-as-fuel-costs-soar#xj4y7vzkg.

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