[Asia Economy Reporter Kim Jong-hwa] On the 13th day of the general strike by the Cargo Solidarity, a branch of the Korean Public Service and Transport Workers' Union under the Korean Confederation of Trade Unions, the cumulative loss in the cement industry was estimated at 91.2 billion KRW.
The Korea Cement Association announced that the cement shipment volume on that day was 23,700 tons, which was only about 13% of the peak season weekday shipment volume of approximately 180,000 tons. The shortfall in shipment volume reached 156,300 tons, resulting in a loss of about 14.5 billion KRW. Since the strike began on the 7th, the cumulative loss has reached approximately 91.2 billion KRW, and it is expected that the cumulative loss will exceed 100 billion KRW by tomorrow.
A representative of the Cement Association stated, "Considering the silo (cement storage) situation, which is reaching its capacity limit due to the rapid increase in inventory caused by the Cargo Solidarity's shipment blockade, we are trying to minimize the increase in production plant inventory by converting domestic volume to exports." However, they added, "Unless the strike ends, the situation is serious enough to halt the operation of major facilities such as kilns at production plants this weekend."
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