South Korea warns of supply disruptions, economic damage if truckers strike

South Korea warns of supply disruptions, economic damage if truckers strike
# 22 November 2022 13:24 (UTC +04:00)

South Korea's prime minister urged unionised truckers on Tuesday to scrap plans to go on strike this week to spare the economy what he called paralysis and irreversible damage, fuelling fears for the post-pandemic recovery of global supply chains, APA reports citing Reuters.

For the second time in less than six months, the trucking union in major exporter South Korea has threatened to begin a nationwide strike on Thursday which could disrupt manufacturing and fuel supplies in the world's top 10th economy.

The strike coincides with a worldwide increase in industrial action sparked by a slowdown in the global economy, and a surge in inflation and fuel costs.

"The union's refusal to transport would cause irreparable damage to the national economy beyond logistics paralysis," Prime Minister Han Duck-soo told reporters. "In the worst case, it could lead to the collapse of the logistics system, cutting our industries' external credibility and threatening global competitiveness."

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