Highlights

  • Auto, petrochemical, steel and other key industries have seen production disruptions worth about 1.6 trillion won ($1.2 billion)
  • Union is protesting against soaring fuel prices and demanding minimum pay guarantees

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22,000 truck drivers on strike; South Korea industry comes to standstill

Posco curbs output, petrochemical industry sees major impact

Thousands of truck drivers in South Korea have entered their seventh day against soaring fuel prices and demanding minimum pay guarantees.

The protest has hit the country’s major industries, delaying car and steel production, and the shipment of raw materials for chips.

In the face of skyrocketing fuel prices, the drivers are demanding that minimum wage guarantees introduced two years ago during the pandemic be extended beyond a December 31 expiration. They are also demanding work rules that prevent overwork and extended hours that they say lead to unsafe driving.

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Car maker Hyundai and steel producer POSCO are among the firms that have been affected by the industrial action.

Steelmaker POSCO has said it would halt some plants due to a lack of space to store unshipped products. Automaker Hyundai Motor has cut production at some lines and cement makers have also cut operations.

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