Lotte Fine Chemical imports 5,500 tons of urea from Vietnam

Trucks carrying 5,500 tons of urea imported from Vietnam head to a factory in Ulsan. [LOTTE FINE CHEMICAL]

Lotte Fine Chemical said Saturday it has imported 5,500 tons of urea for vehicles from Vietnam, a move expected to help ease concerns over urea supplies following China's export suspension.

The amount is the largest with regard to an inbound shipment, since China suspended customs procedures for urea shipments to Korea early this month. China is the world's largest producer of urea.

Lotte Fine Chemical, which supplies half of Korea's urea demand for industrial use, said 5,500 tons of urea is an amount sufficient to produce around 15.5 million liters of urea solution for diesel cars to be used for a month.

The company said the shipment arrived in Ulsan earlier in the day, and will use it to produce urea solution, a key fluid needed in diesel vehicles to cut emissions.

Seoul officials said China seems to have suspended urea exports due to tight supplies for its domestic use, though it was not a formal export curb.