Koreadawoo Receives Minister of Trade, Industry and Energy Commendation on 'Trade Security Day'

Establishment of Internal Export Regulations for Strategic Materials
Recognized for Contributions to Spreading Export Management Culture

Korea Dow announced that it received the Minister of Trade, Industry and Energy Commendation at the ‘2023 Trade Security Day’ event hosted by the Ministry of Trade, Industry and Energy and organized by the Strategic Materials Management Institute. It was recognized for its contribution to national and social development by faithfully implementing the strategic materials export control system as a strategic materials handling organization.

‘Strategic materials’ refer to goods, software, and technologies controlled by the government for export and import to maintain international peace and security and national security. In accordance with the government’s strategic materials management policy, Korea Dow established internal autonomous export control regulations in 2012 and obtained the AA grade as an Autonomous Compliance Trade Operator for strategic materials in the same year, reflecting the latest requirements every year since then.

An ‘Autonomous Compliance Trade Operator’ refers to a trade operator equipped with an autonomous compliance program (Compliance Program·CP) that has the necessary organization and regulations for strategic materials export control to comply with export control laws and autonomously review transaction details to grant export permits. The Ministry of Trade, Industry and Energy annually evaluates domestic Autonomous Compliance Trade Operators under the Foreign Trade Act and assigns three grades: A, AA, and AAA. Korea Dow has maintained the highest grade, AAA, since obtaining it in 2014.

Lee Chang-hyun, CEO of Hankook Dow (right), is shaking hands after receiving a commendation from the Minister of Trade, Industry and Energy at the '2023 Trade Security Day' event held on the 5th at COEX in Gangnam-gu, Seoul.
[Photo by Hankook Dow]

Lee Chang-hyun, CEO of Korea Dow, said, “We will continue sustainable growth through relentless innovation and faithfully comply with various corporate norms such as security, safety, and environment.”

Korea Dow also received the Minister of Trade, Industry and Energy Commendation at the ‘9th Quarterly Foreign-Invested Enterprise Day’ event in 2019. ‘Foreign-Invested Enterprise Day’ is an occasion where the Ministry of Trade, Industry and Energy awards commendations to foreign-invested companies that have contributed to attracting foreign investment and shares various success stories. At that time, Korea Dow was recognized for its contribution to domestic industrial development and job creation effects.

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