The Public Procurement Service (PPS) will release vehicle urea, which has been stockpiled for public reserves, to the private sector.
On the 7th, the PPS announced that it has decided to release the urea currently held in public reserves early to stabilize the supply and demand of vehicle urea.
The release will be conducted from the 7th to the 12th through the PPS website and the Korea ON-line E-Procurement System (KONEPS), accepting applications from companies currently holding public reserves. Only urea manufacturers possessing a catalyst inspection certificate can apply.
The total quantity to be released is about 2,000 tons, which corresponds to 10 days' worth of domestic demand.
If the total requested quantity exceeds the amount to be released, the release volume per manufacturer will be determined comprehensively considering each company's annual urea usage, current inventory, and future procurement plans.
The PPS plans to complete the release of public reserve urea within this month to support urea solution manufacturers facing temporary supply difficulties, while also signing a new purchase contract for 6,000 tons (one month's supply) of urea for public reserves to focus on stabilizing the domestic supply of vehicle urea.
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