BOK chief expresses confidence in Korea’s fiscal soundness


As of Sunday, the nation’s unionized rail
workers are on strike for a 13th day. According to Korea Railroad or KORAIL, trains
are running at 94-point-2 percent the normal level. High-speed KTX and commuter trains operating
at full capacity… but the number of freight trains running will be drastically reduced
on Monday. The 85 percent operational level will not
be maintained come Monday for a number of reasons. For one, significantly fewer trains are needed
for freight services over the weekend. And Korean Cargo Transport Workers’ Union
will begin their demonstations at the start of the week. They’re demanding the government scrap its
reform plan which would result in more trucks for big companies, dealing a blow to small
cargo truck operators. Their first walkout since 2012 along with
the ongoing rail strike… are expected to cause logistics turmoil nationwide.

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