POSCO International has demonstrated its capabilities in export and import management by obtaining the highest grade of 'AAA' from the Korea Customs Service's Authorized Economic Operator (AEO) assessment.
On October 21, POSCO International received the AEO AAA grade certification during a ceremony held at Incheon Customs.
AEO certification is awarded to companies that meet international standards set by the World Customs Organization (WCO), evaluating compliance with regulations, internal controls, financial soundness, and safety management. There are three grades: A, AA, and AAA.
POSCO International handles approximately 40,000 customs clearances annually, starting with an A grade in 2013, advancing to AA in 2022, and achieving the top grade this year.
With the AAA certification, the exemption rate for cargo inspections and document submissions has increased from 70% under the AA grade to 100%. Benefits include exemptions from submitting contracts and planning reviews by the customs authority, as well as extended corporate review cycles.
Companies in 25 countries that have mutual recognition agreements (MRA) with South Korea, including the United States, Japan, and China, will also enjoy the same customs and logistics conveniences.
Additionally, POSCO International is strengthening its support for small and medium-sized enterprises (SMEs) to obtain AEO certification. Starting in 2025, the company will provide consulting and training for five partner companies each year.
A POSCO International representative stated, "Achieving the AAA grade is the result of our continuous efforts to monitor and improve our export and import management system. We will continue to reduce customs risks and enhance our competitiveness while actively pursuing cooperative activities with SMEs."
* This article has been translated by AI.
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