Strike Ends as Korea Truckers Reach Settlement With Ministry
- The government, union sign new wage deal after meeting
- Strike posed risks to economy as $1.2 billion was disrupted
This article is for subscribers only.
Striking truckers in South Korea reached an agreement with the government, ending a weeklong strike that threatened the nation’s economy and added to strains on global supply chains.
Truck drivers began returning to work Wednesday morning after agreeing to extend a freight rate system that guarantees minimum wages. Under the agreement, the transport ministry will provide subsidies to alleviate pressure on surging fuel costs, according to a statement from the Cargo Truckers Solidarity division of the Korean Public Service and Transport Workers Union.