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South Korea Responds to Chinas Temporary Suspension of the Export of Urea Solution for Vehicles
Category: Industry TrendsDate: December 5, 2023 13:11Source: Yonhap News Agency
Home»Industry Trends» South Korea Responds to Chinas Temporary Suspension of the Export of Urea Solution for Vehicles
Choi Nam - ho, a spokesman for South Koreas Ministry of Trade, Industry and Energy, recently said at a press conference that Chinas decision to delay the export of vehicle urea solution to South Korea was due to tight domestic supply in China, not for political reasons. This statement was in response to the General Administration of Customs of China suspending the customs clearance process for Chinese enterprises to export vehicle urea solution to large South Korean enterprises last month.
The South Korean government acknowledges that while current urea solution stocks can last three months, Chinas export restrictions may still impact supply. Recalling last years urea crisis triggered by Chinas export limits, South Korea is preparing for potential long-term measures.
In order to address this situation, relevant government departments in South Korea, such as the Ministry of Trade, Industry and Energy and the Ministry of Economy and Finance, and enterprises importing diesel exhaust fluid will hold a meeting. The aim is to understand the domestic market situation and jointly discuss countermeasures such as diversifying import channels and expanding government reserves. These measures indicate that the South Korean government is trying to reduce its dependence on a single supplier and ensure the stability of the domestic supply of diesel exhaust fluid.
This incident highlights the vulnerability of the resource supply chain in international trade. Especially in the context of globalization, an internal supply problem in one country can quickly affect other countries. At the same time, it also demonstrates the importance of the government taking proactive measures to ensure the stable supply of key resources when facing supply chain tensions.
For South Korea, the stable supply of diesel exhaust fluid is crucial for maintaining the normal operation of transportation and related industries. Therefore, the government and enterprises are looking for alternative solutions to address potential supply shortages.