South Korea trucker strike enters seventh day as economy faces risks
SEOUL, June 13 (Reuters) – A strike by South Korean truckers entered its seventh day on Monday, posing a test for the country’s new president and deepening stress on Asia’s fourth-largest economy, already facing stagflationary pressures.
The strike by unionised truckers seeking higher pay has crippled ports like Busan in the export-dynamo economy, snarling the shipment of components and finished products for the automobile, steel, cement and liquor industries. read more
Steelmaker POSCO (005490.KS) plans to halt some plants from Monday due to a lack of space to store unshipped products. Automaker Hyundai Motor (005380.KS) has cut production at some lines. read more
Register now for FREE unlimited access to Reuters.com
Register
Prolonged labour strife could test President Yoon Suk-yeol, a political novice who took office five weeks ago, potentially distracting from his conservative agenda and raising the risk of long-term antagonism…
