Thousands of truckers in South Korea are on strike, and on Monday, Nov. 28, the group and government officials held a 2-hour meeting. Unfortunately, the two camps were not able to reach an agreement, and a threat of executive action is brewing as a result.
As per the Korea Joongang Daily, the striking truckers and the officials are set to return to the negotiating table on Wednesday, Nov. 30. It was reported that Eo Myeong So, the vice minister of the Ministry of Land, Infrastructure and Transport (MOLIT), talked with the representatives of Cargo Truckers Solidarity, a group that is part of the Korean Confederation of Trade Unions, at the government agency’s office located in Sejong.
Since Thursday, around 7,600 unionized truck drivers have joined the strike. It was said that about 25,000 truckers which is equivalent to six percent of the country’s total, are members of the trucker union. They are protesting for the government to grant their demand of making the freight rate system permanent plus expand the qualifications to include more types of trucks.
In this system, workers are guaranteed the minimum transportation charges to prevent overworking as well as speeding. This system which was temporarily implemented in 2020, also states that shippers are fined if they pay less than the specified minimum. The truckers want to retain this scheme which is already expiring next year.
Eo said this week that extending the system to include more types of drivers is something that the government will not agree on. He said this after commenting that they have already expressed their position with regard to the extension of the freight rate system for another three years.
Lee Sang Min, the minister of interior and safety, further said during a government emergency safety meeting this week that they “can no longer stand by and watch the bad habits of selfish collective actions led by a small group of hardline aristocratic labor union leaders rock the economy and cause harm to the majority of good workers.”
He added, “The government has already accepted the demand from the cargo truck union to extend the freight rate system for another three years for container and cement trucks and we are looking for a solution in our discussions with the National Assembly."
At this time, the system only includes drivers of trucks that carry cement and containers. Thus, the protesting cargo drivers want others to get the same benefits as well. However, as stated by the officials in recent meetings, the government is unlikely to approve this.
Meanwhile, Pulse News reported that the failed dialogue between the officials and the truckers group had halted many loading activities in key ports. Companies from steel to cement and petrochemicals were forced to halt their deliveries and transportation of goods due to the strike.
Photo by: Mitchell Luo/Unsplash


South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
Anta Sports Expands Global Footprint With Strategic Puma Stake
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 



