SEJONG, South Korea, March 26 (Korea Bizwire) — The South Korean government announced on Tuesday plans to expand its strategic stockpile of automotive-grade urea and diversify import sources to prevent future supply disruptions. The move comes as part of broader efforts to strengthen the nation’s industrial supply chains under growing geopolitical and trade uncertainties in 2025. [...]
SEOUL, Dec. 17 (Korea Bizwire) – Lotte Fine Chemical Co. said Saturday it has imported 5,500 tons of urea for vehicles from Vietnam, a move expected to help ease concerns over urea supplies following China’s export suspension. The amount is the largest with regard to an inbound shipment, since China suspended customs procedures for urea [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea will establish a government-wide commission to be in charge of deliberating and adjusting measures on the management of supply chains of major industry items, the finance ministry said Monday. The government also plans to create a fund to secure critical items and support investment in relevant facilities [...]
SEOUL, Dec. 10 (Korea Bizwire) — South Korea is maintaining more than four months of inventory of urea amid growing concerns over its supply in the wake of China’s export suspension, the industry ministry said Sunday. “South Korea will establish a system to thoroughly monitor the sales of urea in the country and make moves [...]
SEJONG, Dec. 7 (Korea Bizwire) — The South Korean government will push to pay for part of urea imports when companies need to buy the chemical from nations other than China as part of efforts to prevent a supply shortage and ensure a longer-term stable supply, the industry minister has said. Industry Minister Bang Moon-kyu [...]
SEOUL, Dec. 6 (Korea Bizwire) – Concerns persist regarding the urea crisis, as Chinese authorities have imposed a blockade on urea exports to South Korea, with speculation that this situation may extend into the first quarter of next year. The sudden suspension of industrial urea clearance from China to South Korea has intensified the supply chain [...]
SEOUL, Jan. 10 (Korea Bizwire) — LX International Corp., the general trading arm of LX Group, said Monday 1,100 tons of urea will arrive in South Korea from China this week. The shipment — the first batch from an import contract with China for 10,000 tons of urea — will arrive in the southeastern port [...]
SEOUL, Dec. 7 (Korea Bizwire) — South Korea will be able to import around 120,000 tons of urea per year from Indonesia over the next three years, a move expected to help prevent a supply crunch of the key industry material here, Seoul’s industry ministry said Tuesday. The agreement was made as Seoul’s Industry Minister [...]
SEOUL, Nov. 10 (Korea Bizwire) — China has confirmed it will go ahead with inspection processes on 18,700 tons of urea used in automobiles before exporting it to South Korea, Seoul’s foreign ministry said Wednesday, a move expected to ease the supply crunch of the diesel exhaust fluid over the coming weeks. Beijing has notified [...]