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| Prime Minister Han Duck-soo, third from left, speaks during a Cabinet meeting at the Seoul Government Complex in Gwanghwamun, Thursday. |
Gov't expects outcome similar to one seen in cement industry
By Lee Kyung-min
About 15,000 striking truckers in the steel and petrochemical industries will be prosecuted unless they return to work immediately, the government said Thursday, in the latest expansion of an executive order issued to put an end to the 15-day collective action wreaking havoc on the export-reliant economy.
Propelling the stern order are 1.31 trillion won ($986 million) and 1.28 trillion won in losses incurred respectively by the steel and petrochemical industries over the past two weeks. Outbound shipments at the two key manufacturing industries have subsequently tanked to 43 percent and 20 percent of the seasonal averages, respectively.
Thursday's action is expected to prompt a large number of striking truckers to come back to work, as seen by at least 60 percent of their peers in the cement industry having returned to their jobs since Nov. 29 when the unprecedented order was issued to the construction industry.
The Ministry of Land, Infrastructure and Transport said 475 out of 778 truckers in the cement industry returned to work, as of Wednesday, upon receiving the written order subjecting them to prosecution after the suspension and revocation of their driver's licenses. Had they not complied, the truckers faced a fine of up to 30 million won or a prison term of up to three years.
The executive order led to a swift recovery of shipments at local ports and construction sites. The combined shipments at 12 major ports soared to 114 percent of the seasonal average as of Wednesday 5 p.m. Shipments of cement rose to 180,000 tons, about 96 percent of the seasonal average. The production volume of ready-mix concrete surged to 71 percent of the seasonal average.
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| Cargo trucks carrying petrochemical products remain parked at Yeosu Industrial Complex, South Jeolla Province, Thursday. Yonhap |
Grave ramifications
"The government has no choice but to issue the order, given the grave ramifications of the collective action on the economy," Prime Minister Han Duck-soo said during a Cabinet meeting at the Seoul Government Complex in Gwanghwamun, Thursday.
Shipment delays in the steel and petrochemical industries will lead to further disruptions in the automobile, shipbuilding and semiconductor industries ― the country's major manufacturers. This, in his view, could spark an economic crisis, making it impossible for the government to wait for the striking truckers to return to work voluntarily.
"The executive order is the best effort and response measure to protect the economy. Collective action lacking grounds will be met with the sternest possible measures governed by the rule of law and principle," he added.
Deputy Prime Minister and Finance Minister Choo Kyung-ho said the 2.6 trillion won in combined losses incurred by the two key manufacturing industries are highly likely to cause major production disruptions in the days to come.
"Shipment delays from the two industries will lead to a suspension of steelmakers' blast furnaces," he said during a press briefing at the government complex in Gwanghwamun.
At least 14 days will be needed to resume full operations of a suspended petrochemical manufacturing plant. The series of risks will seriously undermine the global competitiveness of Korea's manufacturing industry, he added.
"The economy is reeling from surging inflation, a rapid weakening of exports and high borrowing costs. We do not have the time nor the resources to waste on a collective action that entirely lacks grounds."
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