Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Apple Supplier Stocks Slide as Samsung, SK Hynix Lead Selloff After Apple Price Hikes 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Heineken Names JDE Peet’s CEO Rafael Oliveira as New Chief Executive 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
HiteJinro and its striking truck drivers have finally reached an agreement to resolve the conflict over working conditions. This development put an end to the strike that lasted for four months.
The truckers who are members of the Cargo Truckers Solidarity union's latest negotiation with Suyang Logistics turned out to be successful after reaching a common ground on Friday, Sept. 9. The logistics firm is one of the subsidiaries that is wholly owned by HiteJinro, and it was the one that hired the drivers which explains why Suyang made the negotiations with the drivers.
As per Korea Joongang Daily, the union of truckers originally submitted a request for an increase in freight charges by 30%. They cited the soaring fuel costs for the move but later agreed to just a five percent increase. Based on the agreement, the drivers will receive 150% of regular freight charges during holidays.
HiteJinro will also take back the damage claims it filed against the unionized workers earlier. However, the workers must stick to their promise that they will not hold another strike for the same reasons. Breaking this condition will likely result in the case being brought up again.
The South Korean multinational drink, brewing, and distiller company filed a lawsuit against 25 union workers for damages amounting to KRW2.8 billion or $2 million. The company said they disrupted the production works at the factories, which resulted in losses for HiteJinro.
As soon as the agreement was reached last week, the unionized truck drivers immediately withdrew and stopped their occupation of HiteJinro's headquarters. Also, at the height of the strike, some 132 drivers were terminated, and Suyang Logistics decided to hire back most of them but will still exclude some key union members.
HiteJinro, the Cargo Truckers Solidarity, and Suyang Logistics will now work together to further talk about ways to improve the working conditions for truck drivers. The Euljiro Committee, a group of Democratic Party lawmakers that champions employee rights, sent a congratulatory message to the union on Monday, Sept. 12.
"We appreciate that the agreement included HiteJinro, Suyang Logistics and the union engaging in a three-way discussion in the future, and we will do our best so that three parties can engage in meaningful conversations through the meetings," the Euljiro group said in a statement.
