On Tuesday, October 18, 2011, IFEZ signed a memorandum of understanding with the Incheon Port Authority to attract investment to the port hinterland and promote joint marketing. The agreement was arranged to strengthen the connected competitiveness of the Incheon Free Economic Zone and the logistics complex behind Incheon Port, and to reinforce the foundation for attracting domestic and overseas logistics companies. The Incheon Free Economic Zone Authority and the Incheon Port Authority agreed to work together on sharing investment information, carrying out joint promotion, holding investment briefings, and cooperating in marketing in order to revitalize port and logistics business. The Incheon Port Authority is a public institution responsible for the development and management of Incheon Port and for strengthening logistics competitiveness.