|Title Nexen becomes the first Korean tire manufacturer to obtain AEO certification||Date2011-05-17|
Nexen becomes the first Korean tire manufacturer to obtain AEO certification
Various advantages in customs control to boost export competitiveness
Huge cost reduction expected by the increased competitiveness in logistics
Nexen Tire became the first tire manufacturer in Korea that acquired the status of Authorized Economic Operator (AEO).
“After obtaining the FTA Certificate of Origin for Export last November, Nexen Tire now got an AEO Certification as well. We are the only tire manufacturer in Korea with both export certificates.” “Simplified and faster customs control will bring time and cost reduction, which will improve Nexen’s competitiveness even further.” Nexen Tire said in a statement.
AEO Certification is acknowledged in more than 50 nations including the U.S. and EU member countries. World Customs Organization (WCO) examines the compliance, internal control systems, security & safety and financial health to grant an AEO status to companies that satisfy the requirements.
Following on from the U.S. import security program that has been reinforced after the 911 terror attack, WCO incorporated safety and efficiency in this trade logistics system whose authority is now widely recognized. AEO certified companies will have comprehensive advantages in customs control and enjoy the same benefits in the MRA (Mutual Recognition Agreement) countries.
70% of Nexen Tire’s production is for export. Since organizing a TFT last April, Nexen has been readjusting the process and making aggressive improvements for more than a year to meet the AEO requirements.
“By acquiring the AEO status, we could strengthen our export competitiveness that will be the momentum for conquering the global market.” Director Hyunjong Lee of the Business Management Division emphasized. “We will not stop our efforts to deliver the best quality products to the worldwide customers fast and safely.”