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Korean truckers end strike – but supply chains remain seriously disrupted

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Following an eight-day strike, South Korean truckers went back to work today after hammering out an agreement with the government just before midnight. The source of the discontent was the Safe Trucking Freight Rates System, which is due to expire in December, but citing rising fuel costs, the truck drivers wanted it to be extended.

After initial talks fell through Sunday, both sides resumed negotiations yesterday, and the Ministry of Land, Infrastructure and Transport (MOLIT) agreed to prolong the freight system, introduced in 2020 to ensure minimum wages and prevent overwork and dangerous driving. While it is not clear how long the freight system will be extended, the transport ministry said it planned to report the results of the three-year system to the National Assembly so lawmakers could debate whether to prolong it or even make it permanent.

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