Busan Port Authority Supports SMEs with 'AEO Certification' Program

Certified Evaluation of Participating Companies for Regulatory Compliance, Safety Management Level, and Financial Soundness

Busan Port Authority is launching the "Authorized Economic Operator (AEO) Certification Support Project" to strengthen the global competitiveness of small and medium-sized export-import and logistics companies at Busan Port.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan Port Authority (BPA) is conducting the ‘Authorized Economic Operator (AEO) Certification Acquisition Support Project’ to strengthen the global competitiveness of small and medium-sized export-import and logistics companies at Busan Port.

BPA announced on the 24th that it will continue this project this year following last year. The Korea Customs Service annually evaluates trade-related companies such as export-import businesses, transportation, and warehousing based on compliance with regulations, safety management levels, and financial soundness to grant ‘AEO’ certification.

Companies that obtain AEO certification receive various customs administration benefits, including securing cargo management safety domestically and internationally, reduced inspection rates of goods, exemption from document submission, expedited customs clearance, and exemption from inspections between countries implementing AEO.

However, for small and medium-sized enterprises to acquire AEO certification, they need specialized capabilities for preparing related documents and certification tests beyond their main business, and there are human and financial burdens, making it realistically difficult for SMEs to challenge certification.

To alleviate these difficulties, BPA has been implementing the ‘AEO Certification Acquisition’ support project for small and medium-sized enterprises at Busan Port since last year.

If selected as a participating company in this project, the Korea Customs Trade Development Institute, a leading AEO consulting organization, will provide systematic consulting throughout the entire process from preparation to certification review for obtaining AEO.

Last year, BPA selected two SMEs and supported consulting for acquiring AEO certification, and this year, it plans to select three SMEs.

BPA supports 19.8 million KRW per company for consulting costs, and the participating companies only need to bear 5.5 million KRW.

Companies wishing to participate can apply online through the BPA website, and the application period is from the 24th to July 7th.

Nam Ki-chan, President of BPA, said, “I hope that small and medium-sized logistics companies at Busan Port will leap forward as strong export companies through the AEO Certification Acquisition Support Project,” and added, “We will continue to promote various win-win cooperation projects to establish a culture of mutual growth at Busan Port.”

This content was produced with the assistance of AI translation services.