Seoul, South Korea – Sebang, a leading global comprehensive logistics company, has announced that it has become the first logistics company in South Korea to receive the highest rating of ‘AAA’ under the Authorized Economic Operator (AEO) program.
The AEO certification is a globally recognized program that assesses and certifies companies based on their compliance with customs regulations, internal control systems, financial soundness, and security management. With 97 countries participating worldwide, the certification signifies a company's commitment to secure international trade.
Sebang initially obtained AEO certification in 2013 and, in its recent second recertification, secured the ‘AAA’ rating for its bonded warehouse operator division, while maintaining the ‘AA’ rating for its bonded transport operator and stevedore divisions.
“Since the introduction of the AEO system in South Korea in 2008, Sebang remains the only logistics company to have achieved the highest rating,” a Sebang spokesperson said. “As of late September last year, out of a total of 935 certified entities in the country, only 38 companies, accounting for 4%, had obtained the ‘AAA’ rating, and all of them were export-import companies. This latest achievement marks the first instance of the ‘AAA’ rating being extended to non-export-import companies.”
With the ‘AAA’ rating, Sebang will enjoy significant benefits, including reduced cargo inspection rates, exemption from document submission, customs investigations, and expedited customs clearance. The company can also expect similar benefits in the 25 trading partner countries that have mutual recognition agreements with South Korea for authorized economic operators, further enhancing its competitiveness in the global market.
Sebang CEO Jong-il Choi commented, "This achievement of the AEO ‘AAA’ rating is an unprecedented accomplishment in the domestic logistics industry, and it is a testament to Sebang's continuous innovation and customer trust. Based on our proven logistics competitiveness and reliability, we will continue to strengthen our position in the global logistics industry."
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