USDX
101.828

0.05%

XAUUSD
1930.34

0.12%

WTI
79.623

0.16%

EURUSD
1.08738

0.06%

GBPUSD
1.23966

0.04%

USDJPY
129.450

0.27%

USNDAQ100
12132.77

0.28%

Global Markets
News
Columns

Topics Columnists

Trending Topics

Russia-Ukraine Conflict

The war between Russia and Ukraine continues, and it is difficult for the two sides to reach an agreement in negotiations. Western countries have imposed several rounds of sanctions on Russia. The outlook is unpredictable.

Situation in Taiwan Strait

Pelosi's visit to Taiwan has led to an escalation of tensions in the Taiwan Strait. Chinese Foreign Ministry spokesperson Hua Chunying said that the U.S. side and the "Taiwan independence" separatist forces colluded to provoke China, which is the fundamental reason for the tensions in the Taiwan Strait.

The Fed

The Federal Reserve (Fed), or the central bank of the United States, is responsible for regulating the U.S. monetary policy and interest rates. As a provider of liquidity for world trade, the Fed is also known as the world's central bank. Its every move affects the global economy and financial markets.

China-U.S. Relations

Focus on Pelosi's Taiwan Visit ! How will China-U.S. relations develop in the future, win-win cooperation or confrontation?

Top Columnists

FastBull Featured

The latest breaking news and the global financial events.

FastBull

Hi there! Are you ready to get involved into the financial world?

Devin Wang

I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.

Winkelmann

7 years of stock market, foreign exchange, precious metal and other trading and analysis experience, based on fundamental, technical support, biased towards the top-down transaction logic, focusing on macro cycle and risk control, multi-purpose supply and demand theoretical prediction price Changes, balances the impact of transactions, chips distribution and market sentiment, and steady.

7x24
Economic Calendar
Quotes

Videos

Trading AcademyTradersDaniel Market Outlook

Latest Update

Follow the Trend? Or Wait?

Crypto Market had a recovery, Bitcoin has up about 39% since Jan, Ethereum has reached the 16k level. Is it good time to follow the trend and buy?

BTC Reaches $21k, Time to Buy? Let’s Do a Statistic Analysis!

Bitcoin recently topped the $21k level. Is it still a good time to buy? Let's do a quick analysis to show you.

FTX’s Customer Recovery Plan

FTX attorney Andy Dietderich claimed FTX has recovered over $5B dollars in cash. Will victims recover their losses soon? Will SBF be responsible for FTX's collapse?

McKinsey’s Report | What Are the Industries Will Adopt Metaverse?

McKinsey reported that metaverse possibly create $5T in value by 2030. Which industry will be impacted the most? How many people would like to take this transition from their real life to metaverse?

Data

Data Warehouse Market Trend Institutional Data Policy Rates Macro

Market Trend

Speculative Sentiment Orders and Positions Asset Correlation

Popular Indicators

Analysis
AI Signals

Trading Signals

Recommended Signals

Pro
Recent Searches
Trending Searches
Quotes
7x24

View All

No data

Login

Sign Up

Membership
Quick Access to 7x24 Real-Time Quotes
Upgrade to Pro

--

  • My Favorites
  • Following
  • My Subscription
  • Profile
  • Orders
  • FastBull Pro
  • Account Settings
  • Sign Out

Scan to download

Faster Financial News and Market Quotes

Download App
Reminder Settings
  • Economic Calendar
  • Market Quotes

Reminders Temporarily Unavailable

I have a redeem code

Rules for using redeem codes:

1.The activated redeem code cannot be used again

2. Your redeem code becomes invalid if it has expired

Redeem
Fastbull Membership privileges
Quick Access to 7x24
Quick Access to More Editor-selected Real-time News
Real-Time Quotes
View more faster market quotes
Upgrade to FastBull Pro
I have read and agreed to the
Pro Policy
Feedback
0 /250
0/4
Contact Information
Submit
Invite Friends

South Korean Truckers Vote to Return to Work, Ending Strike for Minimum Wage Protections

Thomas
Political FocusEconomic Trends
Summary:

As their walkout entered its third week, South Korean truckers realised their bid to widen and make permanent a government scheme on minimum freight rates was failing as public support waned and President Yoon Suk-yeol refused to budge.

As their walkout entered its third week, South Korean truckers realised their bid to widen and make permanent a government scheme on minimum freight rates was failing as public support waned and President Yoon Suk-yeol refused to budge.
Many businesses prepared for the strike, which began Nov. 24, and were ready to weather short-term pain. And as the government increased pressure - including unprecedented "start work" orders - some of the 25,000 striking truckers headed back to work this week, facing the prospect of not only lost income but lost jobs, drivers told Reuters.
On Friday, the Cargo Truckers Solidarity Union said that 62% of union members voted to call off the strike to return to work but that the union would continue its minimum wage campaign.
"The game is over. It is so sad that all we could do is stop our cars, but nothing has changed," said Kang Myung-gil, a container truck driver who came back to work on Monday after a two-week walkout.
"The union fell into a trap that the government buried," said Kang, who is not a union driver, referring to the government narrative that the strike is devastating the country's economy. "Then, we, living day by day, just have to accept the reality and move on."
This summer, an eight-day strike by truckers delayed cargo shipments from cars to cement across Asia's fourth-largest economy before it ended with each side claiming it had won concessions.
But this time, the government rejected the union's bid to expand minimum protections to other kinds of cargo, including oil tankers, package delivery trucks and auto carries, saying drivers are already well-paid. The government has said it would only extend the current wage programme for three more years.
The difference was that Yoon took a harder line than in the first strike, and South Korean industries were willing to suffer short-term losses to keep operations running.
Yoon ordered some drivers back to work, using never-before invoked powers under a 2004 law, compared strikers to North Korea's nuclear threat and declined to engage with union representatives.
After a start-work order was issued on Nov. 29, traffic at ports began recovering to normal levels, government data shows.
There was no panic buying of gasoline, as most of about 11,000 petrol stations had enough supplies.
A major tyre maker preemptively cleared factory space to store inventory in advance of the strike, a company official said, declining to be identified because of the sensitivity of the issue.
Refineries paid truckers more than double through agents to keep supplies flowing, and temporary workers were hired to get finished Hyundai and Kia cars to local customers, drivers and a transport ministry official said.
Striking drivers such as Kang criticised the union's leadership for not pushing for more during the first strike in June.
"Our union leaders shouldn't have walked away without any firm agreement in June. They didn't see their counterpart could change completely this time, but just left their own people bleeding out," said a unionised fuel tank driver, asking not to be named because of the sensitivity of the matter.
Meanwhile, Yoon's hard line on labour has accompanied a rise in his approval rating since the strike began, according to recent data.
A poll released on Thursday by polling firm Gongjung showed the president's approval rating had jumped by more than 9 percentage points to 41.5%.
"Yoon's tough stance won the hearts of some elderly conservatives that have long been antagonistic about labour unions," said Kim Mi-hyun, head of pollster R&Search.
Businesses are also likely to welcome Yoon's handling of the strike, which could help them keep costs flat when margins are under pressure, analysts added.
"If the government continues to deal with labour issues the way it did with this strike, that would help companies reduce risk," said Kim Dong-one, a business professor at Korea University.

Source: Reuters

Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or signal, or any other product is suitable for you based on your investment objectives and financial situation.

Quick Access to 7x24

Quick Access to More Editor-selected Real-time News

Full Access to Pro Video Channel

FastBull project team is dedicated to create exclusive videos

Real-Time Quotes

View more faster market quotes

More comprehensive macro data and economic indicators

Members have access to entire historical data, guests can only view the last 4 years

Member-only Database

Comprehensive forex, commodity, and equity market data

7x24
Real Time Quotes

Nothing on your watchlist! Go to add

Watchlist
Economic Calendar
  • Economic Calendar
  • Events
  • Holiday
Policy Rates
BANKS ACT (%) PREV (%) CPI (%)
Relevant News
FastBull
English
English
简体中文
繁體中文
العربية
Telegram Instagram Twitter App Store App Store App Store Google Play
Copyright © Fastbull Ltd
Home News Columns AI News Economic Calendar Quotes Videos Data Warehouse Analysis AI Signals Pro User Agreement Privacy Policy About Us

Risk Disclosure

The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.

Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.