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Pantos Receives Freight Forwarder Rating Upgrade
On January 10, at the “AEO Certification Ceremony” which took place in Busan Main Customs, Pantos received a ratings upgrade from A to AA. Pantos also was newly certified as an Authorized Economic Operator (AEO). Currently 202 freight forwarders are certified AEOs, however, there have been only two (Samsung Electronics Logitech Corporation, Hyundai Globis) with AA ratings. Our company is the third.
The AEO certification is an international standard developed by the World Customs Organization (WCO) to accommodate trade related safety measures which were reinforced following the 9/11 terrorist attacks in the US. The AEO program evaluates and certifies businesses that satisfies the criteria including record of compliance with customs requirements and security and safety standards. Certified companies are given benefits in customs clearance.
Following the ratings upgrade and the new certification as an AEO, Pantos will benefit from a simplified customs process, reduced inspection costs and faster customs clearance.
Pantos established a team last year dedicated to AEO certification and ranking upgrade and has continued to manage and improve compliance to guarantee our integrity in trade safety management. In addition, Pantos has continued to conduct continuous and periodic internal control activities (internal audit, risk evaluation, counterparty management) as required by the AEO Program.
Kwangryul Lee of W&D Quality Team stated “The AEO Program is an international trade safety certification program. Our AEO certification is a global recognition of Pantos’ solvency and reliability. On the back of the certification and ratings upgrade, we will continue to provide efficient and safe services to our customers.”