On Tuesday, November 1, 2008, IFEZ signed a memorandum of understanding with Mando Hella Electronics. The agreement was made to expand cooperation in the advanced automotive electronics sector and strengthen the foundation for related industries. Mando Hella Electronics is a company that develops and manufactures automotive electronic control units, lighting systems, and safety-related electronic components. Going forward, both sides will pursue investment and technology cooperation to promote the concentration of advanced industries and revitalize the regional economy.