Martial Arts: "Welcome to Hwamyulyeondae's Return to Work... But Concerns Remain Over Continued Push for Safe Freight Rates"

[Image source=Yonhap News]

[Asia Economy Reporter Park Sunmi] The Korea International Trade Association (KITA) welcomed the decision of the Cargo Solidarity Union to end the strike and return to work, but expressed concerns about the continued promotion of the Safe Freight Rate System.

In a statement released on the 14th, KITA said, "The trade industry welcomes the Cargo Solidarity Union's decision to return to work. Although the eight-day transportation refusal has already caused serious damage to the nation's key industries and exports, we hope the Cargo Solidarity Union will promptly resume operations and join efforts to normalize industry and exports."

However, KITA expressed deep concerns and clearly opposed the agreement between the Ministry of Land, Infrastructure and Transport and the Cargo Solidarity Union to continue promoting the Safe Freight Rate System. The association stated, "Since the legislative discussions on the Safe Freight Rate System until today, our trade industry has consistently maintained the position that the system imposes a unilateral burden on cargo owners," adding, "The continued promotion of the Safe Freight Rate System without considering market functions is feared to reduce domestic production by companies and weaken international competitiveness."

Furthermore, it emphasized, "We hope that unilateral power plays like this by the Cargo Solidarity Union, which hold national industries and the economy hostage to enforce their demands, will not be repeated."

This content was produced with the assistance of AI translation services.