The South Korean Ministry of Economy and Finance (MOEF) met on Dec. 22 to address supply chain risks involving urea, graphite, gallium and germanium. This meeting reviewed current global market trends and discussed South Korea’s response plans. The focus was primarily on mitigating risks and ensuring a stable supply chain for these materials.

As of Dec. 21, South Korea has secured a 6.6-month stockpile of urea due in part to the efforts of private companies in securing alternative sources. Additionally, the South Korean government has taken steps to facilitate consumer access to urea by updating and verifying information on Opinet, a website operated by the Korea National Oil Corporation that provides oil price information nationwide.