Sokor To Import Urea Water Solution From Australia

South Korea said it plans to import urea water solution, a key material used in diesel vehicles to reduce emissions, from Australia this week in a bid to ease its supply shortage that has caused prices to soar.

Photo Insert: Urea water solution is used to reduce emissions in diesel engines.

The government has decided to mobilize military aircraft to bring 20,000 liters of urea solution from Australia, the finance ministry said after a meeting on security and the economy.

"The country plans to mobilize all available diplomatic channels to import thousands of tons of urea within this year not only from Australia but also from other countries, including Vietnam," government told Yonhap News Agency.

South Korea has been grappling with a shortage of urea water solution, known as diesel exhaust fluid, and its surging prices in recent weeks, as China tightened exports of fertilizers and related materials, including urea, in October.

The action was triggered by a power crisis caused by the shortage of coal, the main feedstock for urea.

South Korea heavily relies on China for its supply of urea water solution, as 97.6 percent of its import came from China in the first nine months of this year. In 2013, local manufacturers of urea shut down as they lost price competitiveness over foreign rivals like China and Russia.

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