On February 6, 2006 (Monday), Incheon Metropolitan City and the Incheon Free Economic Zone Authority (IFEZ) signed a memorandum of understanding with the Portman Consortium in Atlanta, Georgia, the United States, to promote the mixed-use development project for Blocks 6 and 8 of Songdo International City. The project site covers approximately 1.92 million pyeong and is planned to be developed into a mixed-use city combining international business, commercial, cultural, and tourism functions. The Portman Consortium plans to prepare detailed development plans and implementation measures, which are expected to strengthen Songdo International City’s role as an international business hub and expand investment attraction.