On Tuesday, December 21, 2021, IFEZ signed a memorandum of understanding for mutual cooperation with the Construction Development Center (CDC), a national institution of Mongolia. The agreement was prepared to share the Incheon Free Economic Zone’s experience and know-how in operating free economic zones in relation to the development of Mongolia’s Khushig Valley satellite city, and to make joint efforts in improving legislation related to free economic zones, conducting feasibility studies for urban development, and establishing a master plan. The Construction Development Center is a national institution that supports Mongolia’s construction and urban development policies and projects.