Korea, US launch electric certification system for steel trade
A port in Busan is seen in this file photo taken on April 1. Yonhap
Korea's trade industry said Thursday it has agreed with the United States to launch an electronic certification system (eCERT) for the export and import processing of steel products.
The agreement will connect the eCERT, operated by the U.S. Customs and Border Protection, with the Korea Iron & Steel Association's export quota management system, according to the Ministry of Trade, Industry and Energy.
When the association submits export approval certificates through the platform, the U.S. will compare them with import declarations and proceed with customs clearance. The results will be sent to the association, allowing it to check the status on a real-time basis.
"While it previously took more than a week for exporters to verify the customs clearance status through U.S. importers, they can now check the status with a single click," Deputy Minister for FTA Negotiations Roh Keon-ki said.
"The system is expected to significantly enhance exporters' convenience and predictability." (Yonhap)