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South Korean Trucker Strike Threatens Semiconductor and Petrochemical Industries

BY JOHN HAYWARD

 

Friday marked the fourth day of a growing strike by South Korean truckers, who are protesting over their wages and the rising cost of fuel.

The strike has become a significant threat to the semiconductor and petrochemical industries, as well as cross-country and international shipping.

The strike began on Tuesday, as roughly 6,500 South Korea’s unionized truckers demanded government assistance to raise their wages because rising fuel prices are eating into profits. The police made some arrests as striking truckers blocked access to factories and freight depots.

Early targets for the striking truckers included industries that rely on the swift delivery of raw materials for “just-in-time” manufacturing – prominently including South Korean auto giant Hyundai, which announced it would temporarily shutter four of its factories on Thursday.

Hyundai’s sister company Kia resorted to asking its employees to hop into finished cars and drive them to shipping yards one at a time rather than moving them in bulk with car carriers.

 

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