According to the South Korean Ministry of Trade, Industry and Resources, the China General Administration of Customs recently blocked customs clearance of urea sent to South Korea by a local Chinese company. Among the companies whose customs clearance was suspended
This includes large Korean companies. The amount of urea stockpiled in South Korea, as determined by the South Korean government, is about three months' worth. On the 30th of last month, the South Korean Ministry of Trade, Industry and Resources held a joint meeting with related ministries such as the Ministry of Planning and Finance and the Ministry of Foreign Affairs.
The meeting was held to consider countermeasures regarding the urea supply chain. The meeting is scheduled to continue on the 4th of this month. Regarding China's suspension of customs clearance for urea, the South Korean government said, ``China is
We understand that this measure was taken in consideration of the supply and demand situation in Japan." The South Korean government asked the Chinese side on the 1st to ascertain the facts, but has not yet received an official response.
2023/12/04 05:21 KST
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