ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Inflation, trucker strike pose first test for South Korea's Yoon

Nation's CPI hit 14-year high of 5.4% in May; BOK set to hike rates further

Trucks are parked next to containers at the Inland Container Depot in Uiwang, South Korea on Monday. A trucker strike is in its eighth day, and is hurting the nation's economy.   © AP

SEOUL -- Thousands of South Korean truckers were on the eighth day of a strike on Tuesday to protest a surge in fuel prices while demanding minimum pay guarantees.

The strike, which has crippled Busan and other ports and is preventing shipments to companies such as Hyundai Motor and steelmaker Posco, is emblematic of the country's struggle with soaring inflation.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more