FedEx Express Receives Authorized Economic Operator Authorized Freight Forwarder Accreditation Level “AA” by Korean Customs Service
SEOUL, January 24 2019—FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, announced that it has been certified with the Authorized Economic Operator AEO) authorized freight forwarder accreditation level “AA”.
FedEx customers will benefit from an enhanced export and import experience as AEO companies have simplified inspections and process at customs clearance. AEO certification recognizes that a company has been validated and authorized by the Korean Customs Service according to the authorization criteria set by Law Compliance, the Internal Control System, Financial Solvency and Security Management.
Since 2013, FedEx Express has received two AEO certificates in Korea, including the Freight Forwarder and Warehouse Operators certification. As an accredited AEO, FedEx shipments receive prioritized customs clearance and FedEx customers enjoy advantages such as accelerated and simplified customs procedures in import and export filings and in inspection and clearance in markets that have signed an MRA (Mutual Recognition Agreement) with Korea.
“In today’s global marketplace, customs clearance remains a challenge for businesses that are importing and exporting, particularly small and medium businesses,” said Eun-Mi Chae, managing director of FedEx Express Korea. “At FedEx, we are committed to simplifying the shipping process to enhance cross-border trade for Korean businesses. The ‘AA’ certification reaffirms FedEx as a reliable logistic provider with the local expertise and tools to facilitate efficient customs clearance in international trade.”
As an AEO-enabled market, Korea is entitled to better trade facilitation with other 19 AEO-enabled markets, including China, Hong Kong, India, Japan, Singapore, Taiwan, the EU and the U.S., through planned implementation of mutual recognition arrangements.
Additionally, FedEx received the Bronze Award at the annual AEO Competitive Exhibition on December 21, 2018. FedEx was the only recipient from the logistics industry.