Hong Nam-ki: "Negotiations Underway with Countries Other Than Australia on Urea Solution, Short-Term Resolution Expected"

"Australia to Supply 27,000 Tons, Finalizing Discussions for Tens of Thousands of Tons with Other Countries"

Deputy Prime Minister for Economic Affairs Hong Nam-ki is attending the plenary session of the Special Committee on Budget and Accounts held at the National Assembly on the 9th, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Han Jinju] On the 9th, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced that negotiations with several countries to secure urea solution are in the final stages.

At the plenary meeting of the National Assembly's Special Committee on Budget and Accounts, Deputy Prime Minister Hong said, "The shortage of urea solution will be resolved in the short term."

Deputy Prime Minister Hong explained, "Australia has said it can supply even 27,000 liters of urea solution, which is being brought in by military transport aircraft, and negotiations with some countries for tens of thousands of tons are almost at the final stage."

He continued, "Since 1 ton equals 3,000 liters, if about 20,000 tons are imported, that amounts to 60 million liters," adding, "If it arrives in November, the urea solution issue will be largely resolved in the short term."

He mentioned China and Vietnam, saying, "I cannot specify particular countries, but negotiations are underway for several hundred to several thousand tons."

Deputy Prime Minister Hong stated, "We have facilitated cooperation by quickly connecting the urea held by private companies to urea solution manufacturers, and yesterday an importer said they could supply about 3,000 tons."

He also added, "The urea solution inspection period will be shortened from 20 days to 5 days, part of the logistics costs will be financially supported, and tariff quotas will be applied."

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