The damage to the domestic industry caused by the general strike of the Confederation of Trade Unions (KCTU) is estimated to have reached 1.6 trillion won.
The Ministry of Trade, Industry and Energy announced today (13th) that it was found that a total of 1.586 trillion won in production, shipment and export disruption occurred in major industries such as automobiles, steel, petrochemicals, and cement for 6 days from the 7th to the 12th. I did.
By sector, the steel industry experienced a total shipment disruption of 450,000 tons (tons) due to restrictions on export of products through land transportation.
Considering that the average unit price of steel products is 1.55 million won per ton, it is a loss of 697.5 billion won.
POSCO Pohang Works has suspended the operation of its wire rod and cold rolling mills from today due to a lack of stock storage space.
In the petrochemical industry, product shipments worth 500 billion won were disrupted due to restrictions on export of products from petrochemical complexes such as Yeosu in Jeollanam-do and Daesan Industrial Complex in Seosan in Chungcheongnam-do.
Accordingly, some petrochemical companies are planning to reduce production starting this week.
It was found that the automobile industry suffered a loss in the production of 5,400 units due to difficulties in importing parts, resulting in a total of 257.1 billion won (based on the average selling price of 47.59 million won per passenger car).
The cement industry was estimated to have suffered a damage of 75.2 billion won (based on the average unit price of cement products of 92,000 won per ton) as a total of 810,000 tons of cement could not be supplied to the construction site as shipments fell by more than 90% from normal. .
Cement companies are planning to reduce the utilization rate of most factories to 50% by the end of this week.
The tire industry has had a setback in shipments of about 640,000 tires worth KRW 57 billion.
The Ministry of Trade, Industry and Energy analyzed that the logistical disruption caused by the general strike has a direct and indirect impact on the overall industry, including major industries, and the actual damage is expected to exceed KRW 1.6 trillion.
In particular, as more and more companies are reaching the limit of their loading space due to severe product shipment disruptions over the past six days, it is predicted that the damage will increase as the production disruption begins in earnest from this week.
1st Vice Minister of Trade, Industry and Energy Jang Young-jin said, "In a complex crisis situation such as a global supply chain crisis and rising raw material prices, if the logistics disruption related to cargo solidarity is prolonged, enormous damage is expected to the national economy and industry as a whole. It is an urgent situation,” he said.