[Asia Economy Reporter Kim Jong-hwa] On the fourth day of the general strike by the Cargo Solidarity of the Public Transport Workers' Union under the Korean Confederation of Trade Unions, the cumulative loss in the cement industry was estimated at 60.9 billion KRW on the 10th.
The Korea Cement Association announced that the cement shipment volume on that day was 18,000 tons, down 800 tons from 18,800 tons the previous day. The scale of losses is based on the usual shipment volume of about 180,000 tons, but only 18,000 tons were shipped, leaving about 162,000 tons unshipped, amounting to approximately 15.1 billion KRW. The cumulative loss over the four days of the strike reached 60.9 billion KRW.
A representative from the Cement Association stated, "It appears that shipments decreased compared to yesterday due to the Cargo Solidarity's blockade of the Gunsan distribution base, which cut off shipments."
The unshipped cement has accumulated as inventory totaling 950,000 tons: about 390,000 tons at production plants and about 560,000 tons at distribution bases nationwide. The storage capacity at six regional production plants is approximately 750,000 tons, and excluding the current inventory of 390,000 tons, there is capacity to store an additional 360,000 tons.
The association explained, "The fact that there is little difference in production plant inventory compared to yesterday is because cement is temporarily stockpiled at key distribution bases through transportable railway and maritime shipping," adding, "We are holding out by maximizing the utilization of distribution base storage capacity."
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