Designated as Autonomous Compliance Trade Operator by Ministry of Industry in 2011
Third acquisition following 2014 and 2019
President Kim Youngseop: "Protecting national economy and security"
Toray Advanced Materials announced on the 2nd that it has consecutively received the highest AAA rating three times from the Ministry of Trade, Industry and Energy as a strategic materials voluntary compliance trade operator.
Since being designated as a voluntary compliance trade operator in 2011, Toray Advanced Materials obtained the highest AAA rating when the voluntary compliance trade operator grading system was introduced in 2014. This certification marks the third time, following 2014 and 2019.
Toray Advanced Materials was the first in Korea to usher in the era of mass production of carbon fiber. To prevent strategic materials including carbon fiber from flowing into sanctioned countries, the company has established a voluntary compliance management system and has been implementing a series of business processes from customer transaction inquiries to product shipment, customs clearance, and post-management.
Kim Young-seop, CEO of Toray Advanced Materials, stated, "Managing strategic materials is not only a matter of corporate survival but also protecting the national economy and security. We will contribute to creating a healthy export ecosystem by continuously improving the management system and strictly adhering to compliance obligations."
Toray Advanced Materials has also received commendations from the Minister of Trade, Industry and Energy four times for its contributions to establishing a national-level strategic materials voluntary compliance system.
A strategic materials voluntary compliance trade operator refers to a company that has established the necessary organizational and regulatory management systems for controlling the export of strategic materials and can autonomously implement export controls such as strategic materials classification and permit applications. They are classified into three grades based on management capability: A, AA, and AAA.
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