On Wednesday, July 25, 2007, IFEZ signed a memorandum of understanding with the Korea International Trade Association to establish the foundation for a U-Trade Hub. The agreement included information exchange for building a Northeast Asia U-Trade Hub, mutual technical support, and technical cooperation related to the construction and development of an exhibition and convention center. The memorandum of understanding is expected to contribute to expanding the foundation for ubiquitous trade transactions and creating international business infrastructure.