On Thursday, March 21, 2019, IFEZ signed a memorandum of understanding on investment cooperation with the Industrial and Commercial Bank of China. The agreement was promoted to expand the attraction of Chinese investment into the Incheon Free Economic Zone by utilizing the bank’s global financial network and its capability to identify promising companies in China, while also strengthening the foundation for cooperation between the two organizations. The Industrial and Commercial Bank of China is a leading global financial institution ranked No. 1 in the banking sector of the 2018 Fortune Global 500, and the two sides planned to pursue various cooperative projects, including the discovery of promising Chinese companies, investment consultations, and information exchange.