On Monday, April 22, 2019, the Incheon Free Economic Zone Authority signed a mutual cooperation agreement with Henkel Korea Ltd. at G-Tower in Songdo International City. Under the agreement, the two sides decided to actively cooperate in administrative support for the construction of a new electronic materials business site, job creation, local talent recruitment, and the creation of an industry-academia-research cluster on a 19,529㎡ site at 218-6 and 218-7, Songdo-dong, Songdo International City. Henkel Korea Ltd., a wholly owned subsidiary of Germany-based Henkel, plans to invest approximately KRW 45 billion (approximately EUR 35 million), begin construction in the second half of 2019, and complete the project in the second half of 2020.