Kang Seung-woo is the Business Desk editor at The Korea Times. Prior to this position, he covered politics, national affairs, finance and sports.
Strike costing KORAIL W2 billion daily
People check the revised schedule for passenger trains at Seoul Station, Friday, the third day of the railway workers' indefinite strike. / Yonhap
By Kang Seung-woo
By Kang Seung-woo
With rail workers' strike continuing for the third straight day, the state-run railway operator said, Friday, it was losing 2 billion won ($1.7 million) per day.
The Korean Railway Workers' Union started an indefinite walkout on Wednesday, demanding higher wages and a massive increase in hiring. As a result, nationwide rail services ― for both passenger and cargo trains ― have been disrupted, causing great inconvenience.
Taking a closer look, the Korea Railroad Corp. (KORAIL) faces a loss of 1.5 billion won from the reduced operations of the high-speed train KTX and the slower Mugunghwa and Saemaeul trains, and its cargo sector loses 400 million won per day. The losses from intercity subway trains connecting Seoul to surrounding areas amount to 80 million won.
KORAIL runs the national rail system as well as Seoul Metro lines 1, 3, and 4 and the Gyeongui-Jungang and Bundang lines.
This is the first strike since one in 2016 that lasted 74 days from September to December. At the time, the collective action cost KORAIL over 60 billion won.
This time, KORAIL said the operation rate for the bullet KTX trains has been 68.9 percent of normal levels, Friday, while the Mugunghwa and Saemaeul trains are operating at 62.5 percent and 58.3 percent, respectively. The operation rate for cargo trains stayed at 28.6 percent.
“There were 2,322 tickets for scheduled trains that were suspended but not canceled,” a KORAIL official said. “Please make sure to check the KORAIL website or its mobile app for a revised schedule and use alternative services.”
According to the union, 11,500 out of 21,000 union members are taking part in the strike, with 9,500 remaining on duty to maintain essential rail services.
The union said it plans to stage a massive rally in front of Jogye Temple in central Seoul, with 8,000 members likely to attend.