Truckers strike costs businesses over $1.2 billion in lost shipments

South Korea’s Ministry of Trade, Industry and Energy said that the ongoing strike by local truckers has cost the cement, steel, auto and oil refining industries an estimated 1.6 trillion South Korean won ($1.23 billion) in lost shipments, Reuters reported. The strike began on Nov. 24 and more than 20,000 truckers are participating in the strike, which has severely disrupted the supply chains, forcing several companies to cut production or halt exports.