Truckers' strike disrupts supply of goods worth 3.5 tln won: gov't

Economy 14:19 December 06, 2022

SEOUL, Dec. 6 (Yonhap) -- The nationwide strike by truckers has caused supply disruptions of goods worth an estimated 3.5 trillion won (US$2.69 billion) in five key sectors, the industry ministry said Tuesday.

The estimate came as the truckers' strike entered its 13th day without any signs of a compromise. Truckers have been demanding that the government extend temporary rules guaranteeing minimum freight rates, set to expire this year.

The strike has caused disruptions in major industries, including steel, petrochemicals, oil refining, cement, and automobiles, with South Korea mulling an additional executive order for truckers in the fuel and steel industries to return to work.

The government invoked a return-to-work order on truckers in the cement industry last week.

"We are reviewing an option to issue a return-to-work order in oil refining, steel, and petrochemical sectors as early as this week in a preemptive effort before massive damages become a reality," Industry Minister Lee Chang-yang said.

The ministry warned local steel and petrochemical plants may soon have to cut production due to shortages of storage space.

As of this morning, 85 gas stations were completely out of fuel, with Seoul and its surrounding Gyeonggi Province taking up 27 and 21, respectively.