On Monday, March 30, 2015, IFEZ signed a mutual growth agreement to revitalize the regional construction industry. The agreement was prepared to ease the management difficulties faced by Incheon-based construction companies amid the downturn in the construction market and to promote shared growth between large and small construction firms. Under the agreement, private developers agreed to enable local specialty contractors to participate in at least 40 percent of subcontracted work and to cooperate in using locally supplied materials, labor, and equipment at a rate of 60 percent or more.