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Press Release
- Expected to receive benefits such as exemption from inspections and shorter processing time when exporting strategic items
Doosan Enerbility announced on November 13th that it had once again received the “AAA” certification, the highest rating for a Compliance Program (CP), from the Ministry of Trade, Industry and Resources (MOTIR).
Strategic items are goods and technologies that require strict control of the exports and imports for the sake of maintaining national security, diplomacy and a good domestic supply and demand balance. Since 2014, the Ministry has been designating CP-certified companies based on evaluations of companies with the capability to autonomously perform the export control of strategic goods by applying a three-tier (A, AA, AAA) rating system. Once certified with a rating, the certification would be valid for three years, after which the company would have to get reevaluated for an extension.
Doosan Enerbility had received its first AAA certification in 2014, making it the first among heavy industry companies to accomplish such a feat. The company went on to continuously receive the same top rating in 2019 and 2022, followed by this year which marks its fourth certification. Doosan Enerbility was able to maintain its top rating owing to the high recognition it received in areas, such as the strong compliance commitment exhibited by top management, adoption of a strategic technology management system and improvements made in the supplier evaluation form submission process.
“Being given the AAA rating once again is significant in that it is an objective reconfirmation of the effectiveness of Doosan Enerbility’s strategic items management system,” said Dongchul Kim, Executive Vice President of Doosan Enerbility’s Management Division. “We plan to uphold export control standards that are compliant with international norms to ultimately raise the stability and reliability of our global business.”
Companies designated under the compliance program benefit in many ways. When exporting strategic goods to the member countries of multilateral export control regimes, such as the United States and United Kingdom, the CP-certified companies would be exempted from receiving export license reviews, and when exporting to high-risk countries such as Vietnam and Saudi Arabia, benefits such as a more simplified documentation process and shorter export license processing time would be provided.
▲ View of Doosan Enerbility Headquarters in Changwon, Gyeongnam Province
