Vice Chairpersons of Six Economic Organizations Visit National Assembly... "Sunset of Safe Freight Rates System"

Kim Do-eup, Chairman of the Legislation Committee, and Kwon Chil-seung, Democratic Party Legislation Committee Member
"Direct Contradiction to Market Principles... Failure to Ensure Traffic Safety"

Members of the Korean Confederation of Trade Unions held a nationwide workers' rally in front of the National Assembly in Seoul on the afternoon of the 3rd, shouting slogans urging the expansion of the cargo safety freight system and the revision of Articles 2 and 3 of the Trade Union Act. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok] On the 26th, the vice chairmen of the six major economic organizations, including Jeong Manki, vice chairman of the Korea International Trade Association, the representative organization of shippers, visited the National Assembly and delivered a message that the Safe Freight Rate System needs to be immediately sunsetted. They met with Kim Do-eup, chairman of the Legislation and Judiciary Committee, and Kwon Chil-seung, a member of the Democratic Party's Judiciary Committee.

Vice Chairman Jeong stated, "Although it is a private autonomy domain, the Safe Freight Rate System, which has been introduced almost exclusively in Korea worldwide, forcibly imposes government-set prices on shippers, directly contradicting the principles of the market economy. Moreover, it has failed to secure traffic safety, which was the original justification for its introduction."

He emphasized, "Traffic safety should be ensured through scientific and empirical methods such as submitting driving record data, rather than by introducing the Safe Freight Rate System, which has almost no causal relationship with traffic safety."

He added, "There must be no further occurrences where unilateral and selfish freight rate increases weaken the competitiveness of export companies and cause inconvenience and sacrifice to the public."

On the same day, the vice chairmen of the six economic organizations met with ruling and opposition party judiciary committee members and delivered a petition reflecting the economic organizations' stance. They urged efforts to ensure that the Safe Freight Rate System is sunsetted as scheduled.