On Monday, October 27, 2014, IFEZ signed a memorandum of understanding with POSCO A&C for the company’s relocation to Songdo International City. The agreement was promoted to relocate the headquarters functions of POSCO A&C to Songdo International City in order to increase the concentration of businesses in the International Business District and strengthen the city’s competitiveness. POSCO A&C is a specialized company in architectural design, urban planning, engineering, and project management, and through its move to Songdo International City, it planned to establish an operational base suited to a global business environment. With this agreement, IFEZ planned to continue promoting business attraction and the expansion of business infrastructure.