The strike continues to escalate!
It is reported that the nationwide strike by thousands of truck drivers in South Korea has lasted for seven days, and the strike activities have continued to escalate, resulting in large-scale delays and disruptions in logistics across the country. The country's port operations have slowed, daily throughput has dropped sharply, cargo shipments in major industries including automobiles, steel, cement, and IT components have been delayed or cancelled, and some factories have suspended production. Daily container throughput at 12 South Korean ports fell by 64 percent last Thursday compared to the May average, according to South Korea's Ministry of Transport. ▪ Daily throughput at the world's seventh-busiest container port, Busan, fell by two-thirds from normal on Friday and fell to a quarter of its level a month earlier on Sunday; ▪ Incheon, another major South Korean port, saw an 80% drop in container traffic; ▪ Container traffic at the port of Ulsan, South Korea's main i...