[비즈니스포스트] The government will secure a seven-month supply of urea for vehicles, which had raised concerns about supply and demand instability. We will continue to pursue stable supply through additional introduction.
On the 22nd, the government held a joint ‘Economic Security Core Product Task Force (TF) Meeting’ with related ministries at the Seoul Government Complex, chaired by Hong Du-seon, Deputy Minister of Strategy and Finance, to inspect and respond to recent trends in supply chain risk items such as automotive urea, graphite, gallium, and germanium. Plans were discussed.
▲ Urea water is being produced at Geumseong NC in Danwon-gu, Ansan-si, Gyeonggi-do. <연합뉴스>
As a result of the government’s compilation of statistics from related ministries on this day, the current domestic inventory and scheduled import volume of vehicle components was calculated to be 6.6 months’ supply.
The government explained that this was a result of companies securing alternative supplies and the Public Procurement Service’s group purchasing performance.
Domestic vehicle element inventory shows an increasing trend from 11.30 (3 months) → 12.8 (4.3 months) → 12.13 (5.1 months) → 12.14 (6.8 months).
On this day, the Public Procurement Service signed an additional contract with a domestic urea manufacturer to add 6,000 tons (one month’s worth of inventory) to the public stockpile. If the domestic urea water manufacturer signs a contract with a third country alternative supplier in the near future, the total volume is expected to exceed 7 months’ supply.
It is reported that a domestic urea manufacturer has signed a supply contract with a Saudi Arabian company to supply 1,000 tons of urea for public storage and is discussing a new supply contract for an additional 5,000 tons.
Starting on the 19th, the Public Procurement Service has been distributing the public stockpile of urea for vehicles (1,930 tons) to small and medium-sized urea manufacturers.
According to Opinet, which discloses urea water sales information, as of 3 p.m. on the 21st, urea water was being sold normally at 3,353 (97.4%) of 3,443 gas stations nationwide. However, sales of urea water at gas stations and large supermarkets decreased compared to last week.
The government has planned to support consumers to purchase urea water conveniently by verifying whether urea water is out of stock at each gas station and whether they have an injector, which is disclosed on Offinet.
Regarding the supply of graphite, gallium, and germanium, the government said, “After the introduction of China’s permit system, export licenses have been issued to domestic companies,” adding, “There is sufficient domestic inventory of diammonium phosphate, and joint purchases between companies in China, the Middle East, and Southeast Asia are possible.” “It has been pushed forward, and so far, it has been confirmed that the impact on domestic production is limited,” he said.
The meeting was attended by officials from the Ministry of Industry, Foreign Affairs, Environment, Agriculture, Food and Rural Affairs, the Ministry of Land, Infrastructure and Transport, the Procurement and Customs Service, and the Office for Government Policy Coordination. Reporter Joo Ha-young
2023-12-22 07:50:08
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