On Wednesday, April 25, 2018, IFEZ signed a memorandum of understanding on smart city cooperation with the Yonsei University Institute for Future Cities and Society. The agreement was intended to establish a joint cooperation framework for developing smart city technologies for future cities and attracting national smart city projects. The two organizations planned to carry out personnel exchanges and joint research projects to create a sustainable urban development model, a future city vision, and a data hub model. The Yonsei University Institute for Future Cities and Society is a presidential research institute under Yonsei University dedicated to the study of future cities