SurplusGLOBAL Receives Minister of Trade Award at '2025 Trade Security Day'

Yahoo

11-07-2025

SEOUL, South Korea, July 11, 2025 /PRNewswire/ --
Leading Private Sector Company in Strategic Materials Export Control, Realizing 'Global Supply Chain Responsibility'
SurplusGLOBAL (CEO: Bruce Kim) was awarded the Minister of Trade Award in the Strategic Materials Export Control category at the '2025 Trade Security Day' ceremony organized by the Ministry of Trade, Industry and Energy.
As a mid-sized company, SurplusGLOBAL stood out for its systematic implementation of strategic materials export controls and its role in presenting a long-term risk management model in the private sector.
Leading with 'Risk Management' Rather than Short-Term Response in Strategic Materials Control
SurplusGLOBAL has strictly adhered to the U.S. BIS (Bureau of Industry and Security) EAR (Export Administration Regulations) and South Korea's Strategic Materials Management System. Even before the U.S.-China trade dispute, the company consistently operated EAR and strategic materials determination processes according to its internal standards. This approach goes beyond simple regulatory compliance and is seen as a long-term risk management strategy.
In particular, SurplusGLOBAL has carried out numerous BIS ECCN pre-classifications (SNAP-R) and integrated an automated transaction blocking feature into its self-developed CRM system, allowing for the early detection and prevention of potential violations.
Additionally, SurplusGLOBAL has independently developed and patented a method and system for detecting and managing abusive activities by exporters and importers on its legacy semiconductor equipment and parts marketplace platform, SemiMarket (www.SemiMarket.com). This innovation has further strengthened the company's responsible risk management practices and enhanced its internal control systems across the global supply chain.
Global Compliance, Responsible Supply Chain, and Risk Management
Recently, SurplusGLOBAL detected a potential buyer in Russia during the export of semiconductor equipment classified as EAR99 (Category for items eligible for export without specific controls). The company identified that this buyer could be a potential risk through an indirect route and proactively halted the transaction.
This preemptive action was taken to strengthen global compliance, responsible supply chain management, and risk management. It also helped enhance trust with the international community by proactively addressing potential risks in the supply chain.
Becoming a 'Strategic Materials Control Hub' Connecting the Private Sector, Government, and Industry
CEO Bruce Kim has contributed to raising awareness across the industry by writing articles and giving conference presentations on strategic materials, geopolitics, and supply chain issues. Through these efforts, he has driven industry-wide changes, including presenting at the 'Korea Geopolitics Conference' hosted by the JoongAng Ilbo and delivering YouTube lectures.
In addition, Bruce Kim has provided practical consulting on SNAP-R(Simplified Network Application Process – Redesign) and EUS(End-User Statement) application not only to large corporations such as Samsung Electronics and SK hynix, but also to small and medium-sized equipment manufacturers, contributing to the foundation of voluntary industry-wide compliance.
CEO Bruce Kim stated, "This Ministerial Award is the result of placing strategic materials control at the heart of our global risk response strategy, rather than just complying with regulations. As a responsible member of the global supply chain, we will contribute to the establishment of a culture of strategic materials control across the industry."
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SOURCE SurplusGLOBAL, Inc.