On Friday, June 30, 2017, IFEZ signed a memorandum of understanding with Stanford University in the United States for the establishment of a Smart City Research Center. Under the agreement, Stanford University planned to establish a branch of the research center at the Incheon Global Campus in Songdo International City and conduct research in a range of fields, including financial modeling, urban informatics, public finance, and local government governance. Stanford University is a globally recognized institution with strong research capabilities in engineering, urban environment, and information technology.