[Featured Stock] Union Highlights 'Bullsone' Stake Amid Urea Solution Shortage... K-OTC Bullsone Also Up

[Asia Economy Reporter Jang Hyowon] Union is showing strength as the fact that Bullsone, a urea solution sales brand, holds shares has come to light amid news that Union is experiencing a urea solution shortage crisis.

As of 1:36 PM on the 4th, Union is trading at 9,170 KRW, up 0.99% from the previous day.

According to recent industry reports, concerns over a "logistics crisis" are rising due to a shortage of urea solution originating from China. Urea solution plays a role in breaking down nitrogen oxides, the main cause of fine dust, into nitrogen and water, thereby reducing exhaust emissions.

It is used not only in diesel vehicles but also in some processes at steel mills, power plants, incinerators, petrochemical plants, and cement factories. Due to the shortage of urea solution, there are concerns that the operation of about 2 million diesel trucks may come to a "complete stop."

Accordingly, the price of urea solution, which was around 10,000 KRW per 10 liters, is now quoted at 100,000 KRW. Union is known to hold a 10.2% stake in Bullsone, one of the five major urea solution brands.

Meanwhile, Bullsone, which was registered on the over-the-counter stock market (K-OTC) last month, is showing a 10.55% increase compared to the previous day at the same time. Bullsone has selected Hi Investment & Securities as the lead underwriter for its initial public offering (IPO) and is preparing for a KOSDAQ listing next year.