[Photo by Kim Yoo-jin]
South Korea has been elected as a member of the Policy and Finance Committees of the World Customs Organization (WCO).
According to the Ministry of Economy and Finance on June 29, the WCO confirmed South Korea's election during its annual general meeting held in Brussels, Belgium, from June 25 to 27.
As a result, South Korea will maintain its committee membership for two years, from next month until June 2028. The country has been part of the Policy Committee since 2014 and the Finance Committee since 2012.
The Policy Committee is a key decision-making body that discusses the WCO's strategic plans, policy development, finance, and auditing, consisting of 25 member countries. The Finance Committee oversees budget, procurement, expenditure, and accounting, with 19 member countries participating.
The WCO is an international organization that manages the Harmonized System (HS) Convention, which sets classification standards for international trade goods, as well as frameworks for trade security and facilitation. Currently, 187 countries are members, with South Korea joining in 1968.
A ministry official stated, "This election to the committees provides a foundation for participating in the formation of international customs administration norms and cooperation among customs authorities. We expect it will enhance the global competitiveness of our exporting companies and contribute to their overseas expansion."
According to the Ministry of Economy and Finance on June 29, the WCO confirmed South Korea's election during its annual general meeting held in Brussels, Belgium, from June 25 to 27.
As a result, South Korea will maintain its committee membership for two years, from next month until June 2028. The country has been part of the Policy Committee since 2014 and the Finance Committee since 2012.
The Policy Committee is a key decision-making body that discusses the WCO's strategic plans, policy development, finance, and auditing, consisting of 25 member countries. The Finance Committee oversees budget, procurement, expenditure, and accounting, with 19 member countries participating.
The WCO is an international organization that manages the Harmonized System (HS) Convention, which sets classification standards for international trade goods, as well as frameworks for trade security and facilitation. Currently, 187 countries are members, with South Korea joining in 1968.
A ministry official stated, "This election to the committees provides a foundation for participating in the formation of international customs administration norms and cooperation among customs authorities. We expect it will enhance the global competitiveness of our exporting companies and contribute to their overseas expansion."
* This article has been translated by AI.
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