S. Korea truckers go on strike at ports as fuel costs soar

Truckers are protesting the planned removal of a government scheme to calculate minimum wages based on operating costs. - Bloomberg

SEOUL (Bloomberg): Thousands of truck drivers in South Korea have gone on strike at some ports and container depots in the country, threatening to slow the export of goods from the Asian nation, according to the International Transport Workers’ Federation.

The Korean Public Service and Transport Workers’ Union Cargo Truckers’ Solidarity Division is holding protests at 16 locations across the country, the ITF said in a website statement on Tuesday (June 7), adding that it is affiliated with the union. Transport has slowed or stopped to the Busan New Port, Pyeongtaek Port and Uiwang container depot in Gyeonggi province, the federation said in an emailed reply to questions.

"The impact of the strike is already being felt at ports, petrochemical complexes, and other logistics hubs,” the ITF said in the statement.

Truckers are protesting the planned removal of a government scheme to calculate minimum wages based on operating costs, the ITF said. That is likely to erode the earnings of those who are driving bulk-cement and container trucks amid soaring fuel prices.

The strikes come at a time when the global supply chain is struggling to recover from lockdowns in China’s cities and Russia’s invasion of Ukraine.

While not all of the nation’s drivers are taking part in the protests, the rallies threaten to slow down South Korea’s exports of everything from steel to plastics and consumer goods if they go on for weeks, local media said.