Release Date: 14 May 2010
Release ID: 4711
Singapore, 14 May 2010: DHL, the world’s leading logistics company, today announced the launch of Customs Brokerage services in South Korea. DHL Global Forwarding has secured a customs brokerage license to operate in Incheon Airport, the world’s second largest international cargo airport.
Customs brokerage, estimated to be worth €450 million per annum in South Korea is largely managed out of Incheon Airport which handled 81% of Korea’s total air cargo and 25% of the country’s total trade in 2009. DHL’s customs brokerage services in South Korea marks the latest addition to DHL Global Forwarding’s network of more than 1,300 customs brokerage employees, of which, more than 225 are individually licensed brokers, across 23 countries in Asia Pacific, growing the specialized service to match the fast paced and ever-changing regulatory environment in the region.
“In South Korea alone, there are close to 10 free trade agreements (FTA) already in effect, with many more underway. In the dynamic markets of Asia Pacific, where there are many government initiatives to promote trade, customs brokerage presents an important service to help customers navigate regulations. Both small and medium sized enterprises and large multi-national companies alike both benefit from such service, to enable them to benefit from FTA agreements in place, and also ensure customs compliance in the movement of goods across borders,” said Charles Kaufmann, CEO, North Asia & Senior Vice President, Airfreight, North Asia Pacific, DHL Global Forwarding.
Free Trade Agreements bring about a reduction or elimination of specific taxes across a range of goods or product categories by mutual agreement, benefiting participating countries and in turn increases trade volumes between signatory countries. South Korea has FTAs in place with countries such as Singapore, India and other ASEAN countries.
“With operations in over 220 countries and territories worldwide, DHL has the core expertise in regulatory processes and security and compliance procedures to help customers with their customs brokerage services, thereby further extending the full range of services DHL offers to customers in South Korea,” said SP Song, Country Manager, DHL Global Forwarding South Korea.
“Launching Customs Brokerage in South Korea effectively expands our extensive customs brokerage network throughout the Asia Pacific region and underscores our position as the world’s leading logistics company. DHL Global Forwarding Korea will offer a comprehensive range of customs clearance services with the highest levels of customs compliance and consistency in clearance, without jeopardizing speed or quality of clearance,” said Stephen Ly, Head of Customs Brokerage Services, DHL Global Forwarding Asia Pacific.