Government "Mobilizing All Diplomatic Channels to Import Urea Solution"... 20,000ℓ Arriving from Australia This Week (Update)

Hong Nam-ki, Deputy Prime Minister, Holds the 2nd Foreign Economic Security Strategy Meeting
Promotes Import of Urea Solution from China, Australia, etc. Using Military Transport Aircraft
Operates Emergency Customs Clearance Support Team and Shortens Vehicle Inspection Period from 20 Days to 3-5 Days

[Sejong=Asia Economy Reporter Kim Hyun-jung] The government announced on the 7th that it will mobilize all available diplomatic channels to procure urea and urea solution from major producing countries such as China and Australia. It has decided to import 20,000 liters (ℓ) of urea solution from Australia this week and plans to use military transport aircraft for faster delivery.

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, held the 2nd Foreign Economic Security Strategy Meeting at the Government Seoul Office on the afternoon of the 7th to discuss these matters.

First, the government will secure overseas supplies and expedite imports. It will continue diplomatic negotiations requesting the Chinese government to expedite export customs clearance procedures, focusing on already contracted volumes (at the level of tens of thousands of tons). At the same time, it will actively negotiate with other urea-producing countries such as Australia and Vietnam to ensure the import of several thousand tons within the year by mobilizing all diplomatic capabilities. This week, 20,000 liters of urea solution will be imported from Australia.

Additionally, the government will provide compensation for excess costs and logistics expenses due to import substitution, swiftly implement tariff quotas, and use military transport aircraft if urgent.

Efforts are also focused on rapid importation. An 'Emergency Customs Clearance Support Team' is being operated, and 'pre-arrival import declaration' is permitted, with emergency customs clearance given top priority. The inspection period for vehicle urea solution will be shortened from the existing 20 days to 3-5 days, and testing and evaluation institutions will be expanded for prompt quality inspection.

The government will review the conversion of industrial urea solution for vehicle use by mid-November and take immediate action if deemed feasible. Furthermore, after completing the testing and analysis of industrial urea and urea solution, a vehicle safety evaluation will be conducted to decide on the conversion.

Since essential vehicles such as fire trucks and ambulances currently hold a three-month supply, the government expects no disruption in their operation. For overall supply stability, measures include ▲identifying corporate (production and distribution) inventories ▲preventing hoarding ▲implementing emergency supply control measures. In particular, a portion of the urea solution reserves held by domestic public sectors such as military units will be converted and allocated to urgent demand sites. Alongside this, to immediately respond to market disruption, a notice banning hoarding of urea and urea solution will be enforced starting on the 8th. Upon enforcement, joint crackdowns will begin immediately with the Ministry of Trade, Industry and Energy, Ministry of Environment, Fair Trade Commission, National Tax Service, and Customs Service.

Moreover, an 'Emergency Supply Adjustment Measure' notice for supply stabilization, including inventory assessment, sales restrictions, and designated sales outlets, will be enacted and implemented within this week by shortening related procedures such as holding an interim Cabinet meeting.

In the mid to long term, the government plans to establish domestic urea production facilities and long-term supply stabilization measures such as strategic stockpiling by the Public Procurement Service. Demand management will also be pursued through developing alternative catalysts that decompose nitrogen oxides without urea solution and expanding facilities that can use ammonia water, a substitute for urea solution. Additionally, programs, R&D, investment costs, and environmental impacts will be comprehensively considered and reviewed for public vehicles such as ambulances, police, and fire trucks. The government will periodically investigate and select items with high dependence on production from specific countries to monitor supply instability risks and prepare timely response measures as needed.

This content was produced with the assistance of AI translation services.