On the occasion of the 60th anniversary of the Korea International Trade Association (KITA) on July 31, the Korean trading arm announced that it plans to complete the building of an electronic trade platform called the "Ubiquitous computing trade platform," or "u-TP" for short, by the end of 2007. In addition to u-TP, which will be capable of performing multilateral networking, according to chairman Lee Hee-beom of KITA, it will greatly enhance 'u-services' such as the real-time information service on transactions through PDAs and DMBs. Furthermore, it plans to adopt software solutions for providing SMS services, such as showing progress being made on edocument proceedings, and expand the database on companies overseas in linking with Hong Kong's TDC and SBF of Singapore and other trade promotion organizations around the world. Meanwhile, KTNET, an electronic trade service and solution provider founded by KITA, said on July 25 that it plans to invest 35.9 billion won for the construction of an 8-story e-trade center in Pangyo. The construction project, to be completed in 2009, was launched to assist companies reduce their trade related costs, KTNET added.