Thursday marked the third day that activity at South Korean ports was disrupted as truck drivers continue to be on strike protesting the rise in fuel prices and inflation in the country.
Around 7,200 truckers from Cargo Truckers Solidarity union and other non-union truck drivers have been protesting in order to receive increases in their pay as well as an extension on an emergency measure guaranteeing freight rates. The South Korean government believes around 6% of the 420,000 truckers in the country took part in the strike.
The strike has taken a toll on several industries. Since its start, steelmaker POSCO hasn’t been able to ship out around 35,000 tons of steel products, which is equal to about a third of its daily shipments from two plants.
Automakers have also been hit hard by the strikes, with truck drivers not making deliveries to Hyundai Motor Company’s plants. According to local media, employees at Kia Motors used recently made cars to make deliveries, although its parent company Hyundai Motor Group made no comment.
The strikes’ impact is felt even more as the world is in the midst of a global supply chain crisis following the lockdowns in China and Russia’s invasion of Ukraine.