Strike a risk to S Korea economyBloombergThe risk to South Korea’s economy and global supply chains is growing as a nationwide trucker strike widens, curbing output at top steelmaker POSCO Holdings Inc and causing increasing damage to the petrochemicals sector. Truckers from the Korean Confederation of Trade Unions protest as a freight truck drives past at the Inland Container Depot in Uiwang, South Korea, yesterday. Photo: EPA-EFEThe Korea Petrochemical Industry Association called for a halt to the strike, saying the “damage is snowballing” and would affect the national economy. A prolonged dispute threatens to have ripple effects across the globe, as South Korea is the largest exporter of memory chips and is home to some of the world’s biggest auto companies. Output by cement companies has fallen significantly, while production by some ready-mixed concrete companies has been suspended, the transport ministry said in a statement.

Source: Taipei Times June 14, 2022 04:03 UTC