The truckers' union said Friday it has reached an agreement with the transportation association over a fare increase, paving the way for ending their ongoing strike.

Thousands of unionized truckers across the country have been on strike since Monday, demanding the government increase fees and reduce fuel costs.

The union and the Container Transportation and Container Yard Operator's Association resumed their negotiations Friday morning before ironing out differences on a fare raise and other key issues, according to the union, without elaborating on the details of the agreement.

In the first round of talks, the union called for an average fare increase of 30 percent, while the association proposed a 4 to 5 percent raise. The difference has narrowed, with the offers from each side ending at 23 percent and 6 percent, according to the truckers' union. 

"Following the agreement, the unionists will take a vote on whether to end the strike by 2 p.m." an official of the union said.

"If the agreement is passed by a majority vote, we will return to work." (Yonhap News)