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The brine contains lithium, a silvery white metal essential for making electric vehicle batteries and in high demand as the world shifts to green energy. Eramet is being closely watched by competitors from the U.S. to Chile that are also working to commercialize DLE. It aims to pump out its first ton of lithium carbonate in November and scale up to 24,000 metric tons a year by mid-2025. The technique allows Eramet to produce a ton of lithium carbonate in one week, versus a year with traditional methods. "You go step by step, making sure you can get to the next phase," said engineer Soledad Gamarra.

Persons: Eramet, Christel Bories, Joe Lowry, Soledad Gamarra, Mara Puntano, John Li, Tsingshan, Bories, Daina Beth Solomon, Salar Centenario, Ernest Scheyder, Lucila Sigal, Veronica Brown, Richard Chang Organizations: Reuters, Battery Metals, Initiative for, Mining Assurance, America, Thomson Locations: SALAR CENTENARIO, Argentina, Argentina's, U.S, Chile, Salta, Rio Tinto, South, Eramet's Centenario, Eramet's, Salt Lake City, U.S ., Utah, China, Asia, Salar, Houston

☆ Glencore-Led Group to Buy Teck’s Coal Business
▼ + stars: | 2023-11-14 | by ( Julie Steinberg | Ben Dummett | ) www.wsj.com time to read: 1 min

Swiss-based Glencore has been an outlier among major resources groups in sticking with coal. Photo: Jose Cendon/Bloomberg NewsCanadian miner Teck Resources said it is selling its coal assets to a group led by mining and trading giant Glencore in a deal that would cap a lengthy saga and be one of the biggest in mining this year. The transaction would value the business at around $9 billion. Under the terms of the deal, Switzerland-based Glencore will pay $6.93 billion for a 77% stake. Japan-based steelmaker Nippon will hold a 20% stake after converting existing holdings in some of Teck’s coal operations and paying cash, while South Korean steelmaker Posco will hold a 3% position after converting its holdings.

Persons: Jose Cendon Organizations: Bloomberg News, Resources, Nippon, South Locations: Switzerland, Japan

☆ Teck to sell majority stake in $8.9 bln coal business to Glencore - Globe & Mail
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Glencore will pay $6.9 billion for a 77% stake in Teck's coal unit, while Japan's Nippon Steel (5401.T) will pay $1.7 billion and swap its interest in one of Teck's coal operations for 20% of the coal business, the report said, citing sources. The Wall Street Journal first reported that Glencore and Teck were in advanced talks on a deal that would value Teck's coal assets at close to $10 billion. Glencore and Nippon Steel declined to comment. The Vancouver-based company has twice rejected an unsolicited $22.5 billion bid for the entire company from Glencore. The company in July said it had received offers from "various" interested parties for its coal business.

Persons: Lyle Stafford, Glencore, Korea's, Teck, Posco, Shubhendu Deshmukh, Shubham, Sonia Cheema Organizations: REUTERS, Teck Resources, Glencore Plc, Asian, Nippon Steel, Globe & Mail, Japan's Nippon Steel, Street Journal, Reuters, Thomson Locations: Teck, Vancouver , British Columbia, Canada, KS, Glencore, The Vancouver, Bengaluru

☆ Global EV battery supply chain puzzles over China graphite curbs
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +6 min

Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. China dominates the global EV battery supply chain including production of graphite - the single largest component. Graphite companies in the country process both the natural material mined domestically and overseas, as well as synthetic forms. Under the new rules, China will require export permits starting Dec. 1 for high-end synthetic graphite, as well as key forms of natural graphite. NATURAL GRAPHITE HITGlobal companies using natural graphite include Hitachi Chemical, part of Japan's Resonac Holdings Corp (4004.T), South Korea's POSCO Future M (003670.KS) and Japan's Mitsubishi Chemical, which produces natural graphite at two plants in China, according to research firm CRU Group.

Persons: Fabian Bimmer, Sunit Kapur, Zhang Yan, Siyi Liu, Brenda Goh, Satoshi Sugiyama, Heekyong Yang, Seoul ， Paul Lienert, Jing Xu, Dominique Patton, Tony Munroe, David Evans Organizations: Volkswagen, REUTERS, Rights, EV, Qingdao, Reuters, China's Ministry of Commerce, Gotion High Tech, BTR, Material Technology, Hitachi Chemical, Japan's Resonac Holdings Corp, Mitsubishi Chemical, CRU Group, Mitsubishi, Resources, Materials, Thomson Locations: Salzgitter, Germany, Beijing, China, Japan, South Korea, United States, U.S, Shanghai, Ningbo Shanshan, Indonesia, Finland, Japan's, Australia, Mozambique, U.S ., Louisiana, North Carolina, Toyko, Seoul ，, Detroit

☆ Posco-backed group invests in lithium technology startup EnergyX
▼ + stars: | 2023-10-17 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +3 min

Posco, which invests through those funds, will work with EnergyX to help its technology reach commercial production, the companies said. The companies declined to say how much of the EnergyX Series B that the consortium is funding. Reuters reported in April that the EnergyX Series B is being led by General Motors (GM.N). Allkem (AKE.AX), Livent (LTHM.N) and others produce lithium nearby. In addition to working with Posco, EnergyX is looking for Argentine brine deposits to purchase, Egan said, though he declined to be more specific.

Persons: Kim Hong, EnergyX, Jaeho Rhee, Posco's Sal, Teague Egan, Posco, Egan, China's CATL, Ernest Scheyder, Stephen Coates Organizations: REUTERS, South, Posco Holdings, EnergyX, Elohim Partners, IMM Investment, Reuters, General Motors, EnergyX's, GM, Thomson Locations: Seoul, South Korea, KS, Argentina, Oro, Argentina's Salta Province, Posco's, Posco, Chile, Bolivia, South

The move is aimed at helping auto makers to diversify their supply chains and increase their reliance on reliable partners like Canada, Investissement Quebec CEO Guy LeBlanc said on Thursday. LeBlanc said Quebec has secured C$15 billion over the past three years and another C$15 billion is coming in the next three years. He added that the Canadian province decided to play to its strengths and develop a strategy to promote its critical mineral resources, including lithium, nickel and graphite. Over the past three years, Quebec has attracted investments from auto and battery makers such as General Motors (GM.N) POSCO (GM.N) and Ford Motors (F.N). The Canadian government has wooed investments by providing subsidies worth C$28.2 billion for auto makers such as Stellantis and Volkswagen.

Persons: Mark Blinch, Guy LeBlanc, LeBlanc, " LeBlanc, Divya Rajagopal, Paul Simao Organizations: REUTERS, Rights, Reuters, Investissement, General Motors, Ford Motors, Canadian, Volkswagen, Huawei, U.S, Thomson Locations: Toronto, Quebec, Canadian, Canada, Investissement Quebec, North America, China, British Columbia

☆ Ford, partners pick Canada for $900 mln battery materials plant
▼ + stars: | 2023-08-17 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. The consortium includes South Korean partners EcoProBM (247540.KQ) and SK On Co Ltd, according a statement from the ministry. The factory will eventually produce 45,000 tonnes of cathode active materials (CAM) per year for Ford EVs. Ford in a separate statement described the materials as high-quality Nickel Cobalt Manganese (NCM) for rechargeable batteries that are targeting greater performance and improved EV range. Germany's BASF SE (BASFn.DE) is also building a battery materials factory there.

Persons: Phil Noble, EcoProBM, Ford, Lisa Drake, EVs, Francois, Philippe Champagne, Steve Scherer, Jane Merriman, Mark Porter Organizations: Ford, REUTERS, Rights OTTAWA, Ford Motor, South, SK, Co, Ford EVs, Reuters, General Motors Co, BASF, Volkswagen, Fiat, Chrysler, Detroit, Thomson Locations: Liverpool, Britain, Becancour, Quebec, North America, Ontario, St, Lawrence, Canada

SEOUL/SHANGHAI, July 31 (Reuters) - Chinese battery materials firms are ramping up investment in South Korea, announcing projects worth at least $4.4 billion this year to try to meet U.S. electric vehicle (EV) tax credit rules aimed at lowering reliance on China's supply chains. The IRA, designed to wean the U.S. off the Chinese supply chain for electric vehicles (EVs), will also eventually bar tax credits if any EV battery components were manufactured by a "foreign entity of concern", a provision aimed at China. South Korea has a free-trade agreement with the United States that would likely make batteries manufactured in the North Asian nation and later installed in U.S.-manufactured electric cars eligible for the federal tax credits. SK On and its supplier EcoPro Co (086520.KQ) also announced a joint venture with China's Green Eco Manufacture to make battery precursors in South Korea. POSCO Holdings (005490.KS) said last month it would cooperate with China's CNGR Advanced Material (300919.SZ) on nickel refining and precursor production in South Korea.

Persons: Kang Dong, hasn't, China's, 1,274.0000, Heekyong Yang, Zoey Zhang, Miyoung Kim, Tom Hogue Organizations: SK, U.S, Hyundai Motor Securities, China JV, U.S . Treasury Department, South, New Energy Technology, Reuters, Zhejiang, LG Chem, LG Energy, EcoPro, China's, POSCO Holdings, LG, Samsung SDI, EV, Thomson Locations: SEOUL, SHANGHAI, South Korea, United States, China, U.S, Korea, Ningbo, Seoul, South Korean, Korean, KS, Shanghai

☆ Factbox: Graphite producers doing deals with automakers and battery groups
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +4 min

Tomas Bergman/Handout via REUTERSLONDON, June 21 (Reuters) - Automakers are rushing to lock in graphite supply from outside dominant producer China as mined graphite demand for electric vehicle (EV) batteries outpaces other uses. Below are details of some Western companies producing, or planning to produce graphite, and their deals with auto makers and battery producers. It aims to start annual production at a battery anode plant in Mauritius in 2024 at 3,600 metric tons. SYRAH RESOURCES LTD (SYR.AX)Operates Balama mine in Mozambique, which doubled graphite production to 163,000 metric tons in 2022 from the year before. MAGNIS ENERGY TECHNOLOGIES LTD (MNS.AX)Developing Nachu graphite mine in Tanzania, aiming to produce 236,000 metric tons of graphite concentrate.

Persons: Tomas Bergman, Handout, steelmaker Thyssenkrupp, Talga, Magnis, Tesla, China's, Eric Onstad, Sharon Singleton Organizations: Talga Group, Reuters, REUTERS LONDON, INC, TALGA, Automotive Cells Company, ACC, Stellantis, Mercedes, Benz, Renault, LG Energy, Ford Motor Company, SK, MONDE, Panasonic Energy, Thomson Locations: Norrbotten, Sweden, China, Madagascar, Mauritius, Lulea, Mozambique, U.S ., Louisiana, Tanzania, United States, New York, South Australia, Macquarie, Canada, India, Alabama, Coosa

☆ Goldman Sachs names the winners and losers of an expected glut in EV battery parts
▼ + stars: | 2023-06-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs expects an oversupply in the global market of battery parts for electric vehicles to have major implications for four major companies. Potential losers The bank's analysts expect POSCO Future M and EcoPro BM, two major Korean cathode producers, to be negatively impacted by this surplus. We thus initiate at Sell on Posco Future M and Ecopro BM," said Goldman Sachs analysts led by Nihil Bhandari in a note on June 12. And winners While Korean cathode manufacturers are expected to face potential margin compression, Korean battery cell makers LG Chem and Samsung SDI are deemed to be in a more favorable position. According to Goldman Sachs, the entry barrier for assembling battery cells is higher than for producing cathodes, making it a less crowded market.

Persons: Goldman Sachs, Nihil Bhandari, Goldman Organizations: Trust Asia, Japan ETF, South Korean, LG Chem, Samsung SDI, Investors, SmartETFs Sustainable Energy, Franklin FTSE Locations: Japan, POSCO, Korean, Franklin FTSE South Korea, South Korea

☆ GM, POSCO Future M to boost investment at Canada battery materials plant
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

June 2 (Reuters) - General Motors Co (GM.N) and South Korea's POSCO Future M said on Friday they will invest more to boost production at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over $1 billion. The companies said the new investment includes an additional CAM and a precursor facility for local on-site processing of critical minerals. The development comes a few days after the Canada's federal government and the Quebec province each provided about C$150 million ($112 million) for the facility. The companies last year established Ultium CAM joint venture, which is majority owned by POSCO Future M, and had initially invested about $327 million, according to media reports. Their battery facility in Becancour, Quebec, will produce cathode active material (CAM) for electric vehicle (EV) batteries.

Persons: Priyamvada, Shinjini Organizations: General Motors Co, POSCO, Thomson Locations: Canada, Quebec, Becancour, Bengaluru

☆ Canada, Quebec to provide about C$300 mln for GM-POSCO battery materials facility
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +1 min

[1/3] The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File PhotoOTTAWA, May 29 (Reuters) - Canada's federal government and the Quebec province will each provide about C$150 million ($112 million) for a General Motors-POSCO Chemical (GM.N)(005490.KS) battery materials facility that is expected create about 200 jobs in the country, the Canadian industry ministry said on Monday. The U.S. carmaker and South Korea's POSCO outlined their plan last year to build the facility in Becancour, Quebec, to produce cathode active material (CAM) for electric vehicle (EV) batteries. CAM includes components like processed nickel, lithium and other materials that make up about 40% of the cost of a battery, the industry ministry said in a statement. "This investment in GM-POSCO's new facility in Becancour will help further position Quebec as a key hub in Canada's growing EV supply chain," Industry Minister Francois-Philippe Champagne said.

☆ Analysis: GM's 2025 EV output could be crimped by battery bottleneck
▼ + stars: | 2023-05-18 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

"We have not changed our targets," GM spokesman Jim Cain said. Those targets include cumulative EV production of 400,000 from early 2022 through mid-2024, a revised goal that CEO Mary Barra reiterated earlier this year. "We believe GM’s targets are hittable despite hurdles to get there," Wedbush auto analyst Dan Ives said. GM has not issued specific North American EV production targets for 2024 and 2025. GM’s North American EV production targets beyond 2025 “will continue to push the limits” of its battery plants, according to AFS, including a recently announced fourth factory with new partner Samsung SDI (006400.KS) that isn’t expected to open until 2026.

☆ Investors ride out China uncertainty in convertible bonds
▼ + stars: | 2023-03-31 | by ( Georgina Lee | ) www.reuters.com time to read: +3 min

Funds that invest in Asian convertible bonds attracted inflows of $118.1 million in January and February, data from Morningstar shows, bucking the overall outflows recorded for the more than 350 convertible bond funds it tracks globally. Convertible bonds are hybrid securities with most, like a regular bond, paying a coupon. "Some Asian convertible bonds are attractive as they offer investors comparable or better yields for a shorter duration than straight bonds, as they come with an inexpensive equity option," said Girish Kumarguru, portfolio manager at alterative asset manager, China Everbright Assets Management (0165.HK). Compared to the 6% yield paid by its regular bond, convertible bond investors get less, with current pricing implying a yield of around 2.5%. "Measures to boost consumption in China should be favourable to Asian convertible bonds as there are numerous consumer-related issuers in this region," said Skander Chabbi, head of global convertible team at BNP Paribas Asset Management based in Paris.

☆ Goldman Sachs just told us the banking crisis makes it more pessimistic about the economy - and other recession signals are blaring too
▼ + stars: | 2023-03-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

The bank crisis that started with Silicon Valley Bank last Friday continues to unfold with what feels like to-the-minute developments. First Republic Bank branch on Park Avenue in New York City. In light of the bank runs, bank failures, and bank stock volatility, those odds are now at 35%, strategists said Thursday, citing "increased near-term uncertainty" surrounding the effects of small bank stress. Silicon Valley Bank and Signature Bank marked the second and third largest bank failures in history, respectively, behind only Washington Mutual in 2008. She explained why you should be prepared for more interest-rate volatility as fears of a financial crisis rise.

Under the plan, South Korea would compensate former forced labourers through an existing public foundation funded by private-sector companies, South Korea's Foreign Minister Park Jin told a briefing. SOUTH KOREAN FUNDSRelations plunged to their lowest point in decades after South Korea's Supreme Court in 2018 ordered Japanese firms to pay reparations to former forced labourers. Overall there are fewer than 1,300 living victims of forced labour in South Korea, according to media estimates. The South Korean companies include KT&G (033780.KS), Korea Electric Power Corp (KEPCO) (015760.KS) and other companies that benefited from a 1965 treaty between South Korea and Japan. Asked whether Japanese companies would pitch in to compensate, Park said both Japanese and South Korean businesses were considering a plan to contribute.

☆ S.Korea's Posco Chemical says wins $32.6 billion order from Samsung SDI
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

SEOUL, Jan 30 (Reuters) - Posco Chemical (003670.KS) said on Monday it has won a 40 trillion won ($32.60 billion) order from Samsung SDI (006400.KS) to supply cathode materials for electric vehicle batteries between 2023 and 2032. However, the deal value could change due to further negotiations and fluctuating prices of raw materials, the company added. ($1 = 1,226.8200 won)Reporting by Hyunsu Yim; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ POSCO posts 2022 profit despite steel production halt after flooding
▼ + stars: | 2023-01-27 | by ( Hyunsu Yim | ) www.reuters.com time to read: +1 min

SEOUL, Jan 27 (Reuters) - POSCO Holdings (005490.KS), parent of South Korea's biggest steelmaker POSCO, posted on Friday a 46.7% drop in last year's annual operating profit due to a four-month suspension of its major steel plant in the country following a typhoon and flooding in September. It reported an operating profit of 4.9 trillion won ($3.97 billion) for 2022, versus a 9.2 trillion won profit a year earlier. The company had estimated earlier the flooding would cost it 1.3 trillion won in 2022, with the majority of the charge reflected in the fourth quarter. The consolidated operating profit fell in line with a 4.9 trillion won profit estimate the company provided last week. ($1 = 1,233.0400 won)Reporting by Hyunsu Yim; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ South Korea hints at compensating victims of Japan's colonial forced labour
▼ + stars: | 2023-01-12 | by ( Hyonhee Shin | ) www.reuters.com time to read: +5 min

The Foundation for Victims of Forced Mobilization by Imperial Japan said it has secured initial donations from steelmaker POSCO (005490.KS) totalling 4 billion won ($3.2 million). Japanese Chief Cabinet Secretary Hirokazu Matsuno, Tokyo’s top spokesperson, declined to comment on Seoul’s compensation plan or its public hearing, saying they were domestic matters within South Korea. The foundation's chief, Shim Kyu-sun, said he would encourage South Korean companies to donate "from the perspective of social responsibility". National flags of South Korea and Japan are displayed during a meeting between Komeito Party members and South Korean lawmakers at Komeito Party's headquarters in Tokyo, Japan, July 31, 2019. Under the 1965 deal, South Korea was required to consider all pre-treaty compensation issues settled.

☆ Redwood Materials joins electric vehicle, battery trek to South Carolina
▼ + stars: | 2022-12-14 | by ( Paul Lienert | ) www.reuters.com time to read: +2 min

Dec 14 (Reuters) - Redwood Materials is the latest company to set up shop in South Carolina's growing community of electric vehicle and battery manufacturers, the Carson City, Nevada-based firm said on Wednesday. Redwood said it will build a $3.5 billion battery materials campus in Ridgefield, about 30 miles (48.28 km) northwest of Charleston, that will recycle, refine and remanufacture cathode and anode materials such as nickel, cobalt, lithium and copper. The Ridgefield facility is expected to supply battery materials to Ford Motor (F.N) and SK On in Kentucky, Toyota Motor (7203.T) in North Carolina and Volvo and Envision AESC in South Carolina. Volvo is building a battery plant next to its assembly facility in Ridgeville and BMW is partnering with Envision AESC on a $700 million battery plant in Woodruff. A second North American “battery belt” is springing up in Canada, in Becancour, Quebec, on the St. Lawrence River.

☆ Australia seeks to limit gas producers' profits as prices soar
▼ + stars: | 2022-12-10 | by ( Samuel Mckeith | ) www.reuters.com time to read: +2 min

The move, detailed late Friday, comes as gas producers face fierce criticism over soaring energy prices that have resulted in windfall profits from their Australian operations. The government said it would cap gas prices at A$12 per gigajoule (GJ) and coal prices for power plants at A$125 per tonne for one year in what Prime Minister Anthony Albanese said were "extraordinary measures" to drive down energy bills. It would not apply to gas sales on the spot market, and would remain in place until the regulator advised the government that domestic gas prices were "reflective of the underlying costs of production". "This may be taken as a declaration of war on the gas industry on the east coast," Credit Suisse analyst Saul Kavonic said. The government earlier this year forecast household gas and power prices would rise by 20% to 30% over each of the next two years.

☆ Australian battery metal players key to South Korea's EV ambition
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Nov 30 (Reuters) - Australia will play a big role in South Korea's ambition to lead the electric vehicle batteries market and diversify from China for its battery metals needs, a top South Korean executive said on Wednesday. In recent years, U.S. allies have moved to reduce their dependence on China amid heightened concern about Beijing's control over the critical minerals sector. South Korea needs critical mineral supplies, having pledged to become a battery manufacturing powerhouse by 2030 as part of a plan to be carbon-neutral by 2050. POSCO last year entered into a joint venture deal with Pilbara Minerals Ltd (PLS.AX) to build a 43,000 tonne lithium hydroxide chemical facility in Gwangyang, South Korea. The Australian government should offer similar incentives so the country can be a leader in global hydrogen exports, he said.

[1/4] A view of a construction site where concrete pouring work is suspended due to a nationwide strike by truckers in Seoul, South Korea November 25, 2022. "We need to establish a rule of law between labour and management," Yoon said on Monday, according to the presidential office. Yoon will personally preside over a cabinet meeting on Tuesday which will consider a 'work force order' demanding striking truckers return to their jobs, his office said. According to South Korean law, during a serious disruption to transport the government may issue an order to force transport workers back to their jobs. While stations secured inventory before the strike, about 80% of truckers for major refiners such as SK Innovation's (096770.KS) SK Energy and S-Oil Corp (010950.KS) are striking union members.

☆ South Korean truckers go on strike, posing risk to supply chain
▼ + stars: | 2022-11-23 | by ( Ju-Min Park | ) www.reuters.com time to read: +2 min

SEOUL, Nov 24 (Reuters) - Unionised truckers in South Korea kicked off their second major strike in less than six months on Thursday, threatening to disrupt manufacturing and fuel supplies in the world's 10th-largest economy. With fuel costs soaring, the truckers are calling on the government to make permanent a minimum-pay system that is due to expire by the end of the year, and to expand benefits for truckers in other industries, including oil tankers. Lead organiser the Cargo Truckers Solidarity Union (CTSU) has warned the strike could stop oil supplies at major refineries and transport at major ports and industrial plants. In June, an eight-day strike by truckers delayed cargo shipments for industries from autos to semiconductors in Asia's fourth-largest economy, costing more than $1.2 billion in lost output and unmet deliveries. The Korea Oil Station Association is asking gas station owners to secure enough inventory ahead of the strike, an association official said earlier.

Land Minister Won Hee-ryong said that the government would consider deploying military trucks to areas needed for urgent transport. The Korea Oil Station Association is asking gas station owners to secure enough inventory ahead of the strike, an association official said on Wednesday. "We learned some lessons from the last strike," said the official, who declined to be named because of the sensitivity of the issue. The transport ministry had said some 7,000 people participated in the June strike, while the union said more than 22,000 took part. The Korea International Trade Association, a shippers' body, said on Wednesday that it has created a task force to handle any disruptions and minimise trade damage.

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