SEOUL, SOUTH KOREA — About 15,000 unionized truck drivers throughout South Korea downed tools this time last week to protest rising fuel prices but they should be returning to work today, according to the Yonhap news agency.
According to the Ministry of Land, Transport and Maritime Affairs, consigners and consignees agreed to hike haulage rates, thereby appeasing the striking drivers, all members of the Korea Cargo Worker Union (KCWU).
The decision to return to work came after reports that truckers had reached deals with a growing number of major shippers, including chemical giant LG Chem, the steel company POSCO and the Hyundai affiliate Glovis.
The strike cost the Korean economy about $5.92 billion in lost trade and disrupted operations at major ports.
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