The Ministry of Knowledge Economy and the Korea International Trade Association ("KITA"), have carried out a project to build "e-Trade (paperless trade) services" as a part of the "e-Government agenda" since 2003. As a result, we introduced the uTradeHub, a new concept of a national e-Trade network. The uTradeHub processes overall trade affairs seamlessly ranging from marketing to settlement by linking networks of trading related entites for each process, such as market places and other institutions that review market conditions, domestic banks, foreign bank, the Korea Financial Telecommunications and Clearings Institute, the Korea Customs Service, and logistics companies.

Trading companies can use trading process such as marketing, market research, customs clearance, logistics, banking, and negotiations through uTradeHub, a single online window for those activities. The uTradeHub has simplified complicated trading procedures by providing online services, making it unnecessary to visit banks or trade-related authorities.

The Ministry of Knowledge Economy designated KTNET as the e-Trade service provider for operatingthe uTradeHub services and systems under the e-Trade promotion law.