AEO award ceremony held at Incheon Customs on Wednesday

First upgrade since achieving AA rating in 2022

An exterior view of POSCO International's Songdo headquarters. [POSCO International]
An exterior view of POSCO International's Songdo headquarters. [POSCO International]

POSCO International announced Wednesday that it has obtained the top AAA rating under South Korea's Authorized Economic Operator certification program for export-import safety management.

The company received the certificate at an AEO award ceremony held at Incheon Customs on Wednesday. The AEO certification is granted by national customs authorities based on World Customs Organization (WCO) standards, following a comprehensive review of a company's regulatory compliance, internal control systems, financial soundness and security management.

POSCO International first earned an AEO A rating in 2013, then upgraded to AA in 2022. This year, after pre-inspections and on-site reviews covering its major business sites and overall export-import operations, the company achieved the highest AAA rating.

POSCO International handles about 40,000 export-import customs clearances annually and has strengthened its trade management capabilities by streamlining clearance procedures. Since last year, the company has also offered an AEO certification support program to five partner companies each year.

With the AAA rating, the share of export-import cargo inspections and document submission screenings from which the company is exempt rises to 100 percent, up from 70 percent under the AA rating.

The company will also be exempt from contract submission requirements and Korea Customs Service special audits, and will benefit from extended intervals between corporate reviews. In addition, it will receive customs clearance and logistics benefits in 25 countries that have signed Mutual Recognition Arrangements with South Korea.

"This AAA rating is the result of continuously reviewing and improving our export-import management systems," a POSCO International official said. "We will continue to reduce customs risk and improve logistics efficiency to strengthen our trade competitiveness, while also sustaining our cooperative efforts to help small and medium-sized enterprises obtain AEO certification."


klee@heraldcorp.com