Busan Port Authority Announces Call for Participants in AEO Certification Support Program ... "Strengthening Global Competitiveness of SMEs"

Busan Port Authority.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan Port Authority (BPA) is inviting applications from companies to participate in 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.

By obtaining the AEO certification, which is recognized by the Korea Customs Service for reliability and safety, companies can receive various customs administrative benefits such as ▲ securing cargo management safety domestically and internationally ▲ reducing the rate of goods inspections ▲ waiving document submissions ▲ expedited customs clearance ▲ exemption from inspections between AEO-implementing countries such as the United States and China.

However, the screening process is known to be complicated and the human and financial burdens are significant, making it difficult for small and medium-sized enterprises to acquire certification on their own capabilities.

In response to this reality and the demand from SMEs, BPA selected 2 companies in 2019, 2 companies in 2020, and 4 companies in 2021 to support AEO consulting. This year, the support target will be expanded to select 5 companies.

The authority provides systematic consulting throughout the entire process from preparation to certification review for AEO acquisition, in partnership with the Korea Customs Trade Development Institute, a leading institution in AEO consulting.

BPA supports consulting costs of 19.8 million KRW per selected company. The participating companies only need to bear the remaining amount of 5.5 million KRW.

Companies wishing to participate can download the application form from the BPA website and apply online via Sangsaengnuri. The application period is from the 29th to September 15.

Kang Jun-seok, President of BPA, said, “We hope that the AEO Certification Acquisition Support Project will contribute to the growth of small and medium-sized logistics companies at Busan Port into strong export companies,” and added, “We will continue to strive to build an ecosystem of mutual growth at Busan Port through various win-win collaboration activities.”

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