Government: "Expanding Key Urea Solution Gas Stations to 136... Gradual Increase of Directly Managed and Affordable Gas Stations"

The 20th Interministerial Joint Response Meeting on Urea Solution Supply

Lee Ok-won, First Vice Minister of the Ministry of Economy and Finance, is speaking at the "20th Joint Government Meeting on Urea Solution Supply" held at the Government Seoul Office in Gwanghwamun, Seoul on the 29th. 2021.11.29 Photo by Yonhap News

[Sejong=Asia Economy Reporter Son Seon-hee] The government announced that it is discussing a plan to add 15 more gas stations specializing in urea solution distribution compared to the existing number. Once the discussions are finalized, the total number of key gas stations will increase to 136.

On the 29th, the government held the "20th Inter-Ministerial Joint Response Meeting on Urea Solution Supply and Demand," chaired by Lee Eok-won, First Vice Minister of Strategy and Finance, to review the supply and demand situation including urea solution production, distribution, and allocation.

The number of gas stations specializing in urea solution distribution, which initially started with about 100 locations, increased by 11 on the 19th and then by 10 more at gas stations frequently used by freight trucks the day before. Adding the 15 locations currently under discussion by the government brings the total to 136. Furthermore, the government is considering gradually expanding this to include directly operated gas stations by oil refiners and discount gas stations in the future.

Additionally, urea solution inventory information is updated and provided every two hours daily, and similar services are planned to be offered through platforms like Naver and Kakao within this week.

The supply and demand situation for urea solution continues to remain stable. According to the government, domestic urea solution production by the top 10 major manufacturers is maintained at twice the daily consumption (about 600,000 liters) on weekdays and 1.5 times on weekends. In particular, since the beginning of this month, the production and shipment volumes of urea solution by the top 5 manufacturers have been approximately 1.2 times and 1.3 times higher, respectively, compared to the same period last year.

Moreover, the government is intensively cracking down on market disorder activities such as hoarding of urea solution.