Head of National Office: "19,000 Tons of Chinese Urea Solution Awaiting Customs Clearance... Resolving as Quickly as Possible"

Koo Yoon-chul, Director of the Office for Government Policy Coordination
Photo by Yonhap News

[Sejong=Asia Economy Reporter Son Seon-hee] Koo Yoon-chul, Minister of the Office for Government Policy Coordination, said on the 9th regarding the urea solution shortage, "More than 19,000 tons are held by China's General Administration of Customs, but these are quantities we have contracted and are awaiting customs clearance," adding, "We are trying to resolve the customs clearance issue as quickly as possible within a short time."

Minister Koo stated this during the plenary session of the National Assembly's Political Affairs Committee that morning, saying, "If this issue is resolved, we will be able to catch our breath."

Furthermore, Minister Koo said, "Since we cannot rely solely on China for urea solution imports, we are discussing diversifying import sources with countries such as Australia, Vietnam, Qatar, and Middle Eastern nations," adding, "We should no longer be overly dependent on a specific country."

He continued, "In the long term, urea solution should be considered a very important commodity, and if there is a deficit, the government should either provide compensation or subsidies, and domestic production should be maintained to some extent."

Regarding the stock of urea solution, he revealed, "About 200 tons are consumed daily, and after checking the inventory for 200 tons, there is only about a month's worth of stock remaining."

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