South Korea’s Deputy Prime Minister for Economy, Gu Yoon-cheol, announced plans to accelerate the release of public stockpiles of vehicle urea and urea solution amid sharp price increases.
Addressing Soaring Costs
During a meeting with heads of non-major economic ministries on the 17th, Gu expressed concerns over recent price surges affecting vehicle urea and urea solution supplies. He stated that authorities are prioritizing the prompt deployment of reserve stocks to stabilize the market.
“All offices maintain an excess supply equivalent to about three months’ demand,” Gu noted. “However, the top priority remains a targeted response to sudden, sector-specific spikes.”
Enhancing Response Capabilities
Gu highlighted the central government’s expanded capacity to handle such crises. “We now possess substantial resources for large-scale interventions,” he said.
To better safeguard businesses and the public, he called for a broader framework to address unexpected economic disruptions effectively.
