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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
Updated on

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.