On June 16, 2021 (Wednesday), IFEZ and Qingdao Free Trade Zone signed a memorandum of understanding (MOU) based on exchanges and cooperation in bio-medicine. The agreement was signed after the Qingdao Free Trade Zone Management Committee requested the Incheon Free Trade Zone Authority to sign the Open Cooperation and Project Promotion Conference in Qingdao, China jointly hosted by China's Qingdao Free Trade Zone and Shandong Province's Commerce Office. The main contents of the agreement are △enhancing exchanges and cooperation in bio-medicine, port and air logistics, high-tech and manufacturing, financial services, tourism and cultural industries △Global e-commerce, logistics centers for logistics transfer, RFS, and cooperation networks.