Ministry of Industry: "Railroad strike raises concerns over negative impact on exports... Will actively devise emergency transportation measures"

by Ju Sangdon

Published 14 Sep.2023 13:49(KST)

Emergency Countermeasure Meeting for Railway Strike Response

The Ministry of Trade, Industry and Energy held an emergency countermeasure meeting on the 14th, chaired by First Vice Minister Jang Young-jin, regarding the strike by the Korea Railroad Corporation (KORAIL) labor union.

This meeting was held to assess the impact on export logistics by major industries due to the railroad union strike starting that day and to discuss response measures.

Vice Minister Jang stated, "The strike by the railroad union raises concerns about a negative impact on the positive export trend that has shown a trade surplus for three consecutive months recently," adding, "To minimize any negative effects on future exports, we will conduct thorough monitoring in cooperation with related ministries and export industry associations, and actively devise emergency transportation measures such as alternative transport."

Through the countermeasure meeting, the government assessed the export impact on key items such as cement, steel, petrochemicals, and containers due to the railroad union strike and found that the short-term impact is limited. However, to minimize any negative effects on exports going forward, monitoring will be strengthened, and emergency transportation measures will be actively pursued in cooperation with related ministries. The Korea International Trade Association will establish and operate a logistics difficulty reporting center for export companies affected by the railroad union strike.

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Meanwhile, this railroad union strike is the first in about four years since November 2019. During the strike period, KORAIL plans to maintain metropolitan subway operation rates at about 75% of normal levels, with over 90% operation during commuting hours. KTX will prioritize deploying substitute personnel and operate at 68% of normal service.