SK hynix announced today that it has received the highest level of voluntary compliance certification, AAA, from South Korea's Ministry of Trade, Industry, and Energy (MOTIE).
Strategic items are crucial products and technologies designated by the government to manage exports, imports, and supply and demand in order to maintain national security, foreign policies, and domestic market conditions.
The AAA certification is granted to companies with export control compliance programs that align with regulations and international trade standards. These companies possess the ability to independently determine whether an item is classified as a strategic item and can analyze the end-users effectively.
South Korea's trade ministry evaluates companies annually based on their export control compliance programs and classifies them into three groups: A, AA, and AAA. The AAA rating is reserved for companies with the most outstanding export control compliance programs.
This achievement comes at a time when countries and governments worldwide are making significant efforts to manage global supply chains properly. Measures are being introduced to prevent the misuse of semiconductors for weapons of mass destruction or other illicit purposes.
SK hynix has dedicated itself to improving its export control compliance program for strategic items and has consistently invested in enhancing its capabilities. Since obtaining its first certificate as a self-compliance trader in 2005, it has maintained AA ratings since 2014, leading to the recent achievement of the highest AAA rating this year.
Kim Youn-wook, Vice President for Corporate Sustainability Management at SK hynix, expressed the company's honor in receiving government recognition for its excellent compliance system. He said, "We will continue to abide by both domestic and international rules and fulfill the requirements of all stakeholders."
