On Thursday, September 29, 2005, IFEZ signed a memorandum of understanding in San Francisco, the United States, with AMB Property, a U.S. developer specializing in logistics facilities, for the development of a logistics complex. AMB Property will invest more than USD 100 million (approximately KRW 105 billion) to construct tenant buildings for logistics companies and supporting facilities in the airport logistics complex within the free trade zone of Incheon International Airport in Yeongjong International City. IFEZ plans to identify suitable domestic joint venture partners and provide tax and administrative support.