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Ministry: Loss from Truckers' Strike Amounts to 1.6 tln Won, Could Rise Further

Written: 2022-06-13 18:00:29Updated: 2022-06-13 19:20:54

Ministry: Loss from Truckers' Strike Amounts to 1.6 tln Won, Could Rise Further

Photo : YONHAP News

The ongoing national strike by cargo truckers was presumed to have already incurred around one-point-six trillion won worth losses to local industries since its launch last week. 

The Ministry of Trade, Industry and Energy on Monday said the amount of losses concerning production, shipment and exports for such industries as auto making, steel, petrochemical and cement as a result of the walkout since last Tuesday was estimated at one-point-59 trillion won. 

By sector, a delay in shipment of 450-thousand tons of steel products caused a loss of around 700 billion won. Petrochemical companies reported around 500 billion won worth of damages in shipment, followed by automakers at some 250 billion won worth of loss related to production. 

As many industries have been facing a looming shortage of inventory storage space due to continued disruption in shipment, the ministry expects the size of losses will further inflate unless the walkout ceases.  

The Cargo Truckers Solidarity under the wing of the Korean Confederation of Trade Unions, has been on a strike since last Tuesday demanding higher wages and an extension of the Safe Trucking Freight Rates System, which expires at the end of this year.

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