On Thursday, February 28, 2013, IFEZ signed a memorandum of understanding with the Roman Catholic Diocese of Incheon Foundation for the establishment of the Incheon Catholic University Songdo Global Education and Research Campus. The project was planned on a 40,000㎡ site in Zone 5 of Songdo International City, and later outlined phased development with a total project cost of approximately KRW 100 billion (approximately USD 92 million), including an international kindergarten, an international language institute, an international exchange center, an industry-academia-research center, research institutes, a graduate school of fine arts, and a graduate school of theology.