Nexen Tire has become the first South Korean tire manufacturer to be issued with an AEO (Authorized Economic Operator) certificate by the South Korea Customs Service.
AEO certification, the tiremaker explained, allows for faster and more secure customs checks. This document complements the FTA certificate, which documents the place of origin of exported products, received last November.
“Through the two certificates Nexen anticipates increasing its export competiveness as the simplified customs procedure will save both time and money,” commented Nexen Tire Europe.
The AEO customs certificate is recognized in more than 50 countries, including EU member states and the U.S. To qualify for AEO status, a company is assessed by the World Customs Organization.
As some 70% of all Nexen products are destined for export markets, achieving this certification has been a significant step for the manufacturer. “The AEO status increases our competitiveness in the export area, and provides the necessary impulse for Nexen’s expansion in the global market,” stated Hyunjong Lee, director of Nexen Tire’s business management division. (Tyres & Accessories)
