On Wednesday, November 10, 2021, IFEZ signed a memorandum of understanding for mutual cooperation with the K-POP Future Entertainment City Consortium, formed around major Korean entertainment agencies. The agreement was joined by SM Entertainment Co., Ltd., JYP Entertainment Corporation, and FNC Entertainment Co., Ltd. Under the memorandum, the parties agreed to work together to expand K-POP cultural facilities and related infrastructure, and to jointly identify and promote diverse cultural events and future-oriented, creative cultural projects using entertainment content.