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HomeStockSouth Korea's President Yoon warns of crackdown on hanging truckers By Reuters

South Korea’s President Yoon warns of crackdown on hanging truckers By Reuters

© Reuters. FILE PHOTO: South Korea’s President Yoon Suk-yeol attends the ASEAN summit held in Phnom Penh, Cambodia November 11, 2022. REUTERS/Cindy Liu

By Joyce Lee

SEOUL (Reuters) -South Korean President Yoon Suk-yeol warned that the federal government may step in to interrupt up a nationwide strike by truckers, calling it unlawful and unacceptable to take the nationwide provide chain “hostage” throughout an financial disaster.

Hundreds of unionised truckers kicked off their second main strike in lower than six months on Thursday, and it’s already displaying indicators of disrupting a number of industries on the earth’s Tenth-largest economic system.

“The general public is not going to tolerate taking the logistics system hostage within the face of a nationwide disaster,” Yoon stated in a Fb (NASDAQ:) message late on Thursday, after saying exports had been key to overcoming financial instability and monetary market volatility.

“If the irresponsible denial of transport continues, the federal government can have no selection however to evaluation a variety of measures, together with a piece begin order.”

In response to South Korean regulation, throughout a severe disruption to transportation the federal government could challenge such an order to power transport employees again to their jobs. Failure to conform is punishable by as much as three years of jail, or a advantageous of as much as 30 million gained ($22,550).

If the federal government takes this route, it will be the primary time in South Korean historical past such a order is issued.

Transport Minister Received Hee-ryong instructed reporters on Thursday that the ministry has begun groundwork for issuing the order.

The top of the Cargo Truckers Solidarity Union (CTSU), Lee Bong-ju, stated the truckers had no selection however to strike after the federal government stalled negotiations and haven’t sought dialogue since.

“The Yoon Suk-yeol authorities is threatening a hard-line response with none efforts to cease the strike,” Lee instructed reporters on Thursday.

For the primary day of the strike, the Korea Worldwide Commerce Affiliation (KITA) stated it acquired 19 stories of instances of disrupted logistics. These included incapability to herald uncooked supplies, greater logistics prices and supply delays resulting in penalties and commerce with abroad consumers being scrapped.

In a single occasion, uncooked supplies for a chemical firm had been delivered below police safety after the transport car was blocked by hanging truckers from coming into a manufacturing facility, KITA stated.

The cement business sustained income lack of an estimated 19 billion gained ($14.26 million) on Thursday, foyer group Korea Cement Affiliation stated, after shipments slumped to lower than 10,000 tonnes because of the strike. This compares with South Korea’s 200,000 tonnes of cement demand within the peak season between September and early December.

The union estimated about 25,000 individuals had been becoming a member of the strike, out of about 420,000 whole transport employees in South Korea. The transport ministry stated about 8,000 individuals had been camped out on Thursday at key transport factors to protest in a single day.

($1 = 1,332.4700 gained)



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