National Assembly Budget and Accounts Special Committee Comprehensive Policy Inquiry

Prime Minister Kim Boo-kyum is responding at the Budget and Accounts Special Committee held at the National Assembly in Yeouido, Seoul, on the afternoon of the 5th. 2021.11.5 [Photo by Yonhap News]

Prime Minister Kim Boo-kyum is responding at the Budget and Accounts Special Committee held at the National Assembly in Yeouido, Seoul, on the afternoon of the 5th. 2021.11.5 [Photo by Yonhap News]

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[Sejong=Asia Economy Reporter Son Seon-hee] Prime Minister Kim Boo-kyum said on the 8th regarding the urea solution shortage crisis, "I regret that if we had responded proactively from the beginning, we might have been able to prevent the situation from worsening," adding, "I deeply reflect on this."


On the same day, during the comprehensive policy questioning at the National Assembly Budget and Accounts Committee, Kim responded to the criticism from Oh Young-hwan, a member of the Democratic Party of Korea, who said, "There is an evaluation that the government's response was too late and that the national crisis management awareness was complacent."


Furthermore, in response to Oh's demand to review the overall industrial resource supply status in light of this incident, Kim stated, "The Ministry of Trade, Industry and Energy has identified that, besides those managed and stockpiled as strategic materials, there are about 80 items that play important roles throughout society like this case," adding, "We will renew our awareness of resource security, prepare accordingly, and establish a system for the entire nation to manage the situation."


Regarding concerns that the urea solution shortage crisis could be prolonged, he said, "All government departments are working hard to prevent such a situation," and added, "We are making every effort, including diversifying import sources according to emergency plans." In particular, he noted, "There is a buffer of about 2 to 3 months for firefighting and medical use."



Although the government announced that it would procure 20,000 liters (20 tons) from Australia this week via military transport aircraft, this accounts for only about 3.3% of the daily vehicle usage (600 tons). Regarding additional procurement contracts, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki responded, "Negotiations are underway with about ten countries, but it is difficult to specify any particular country."


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

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