On January 10, 2007 (Wednesday) IFEZ signed a business agreement with Seoul National University Hospital and the Institute of Life Science and Biotechnology of Yonsei University for the development of an advanced medical complex. The agreement established a foundation for industry-academia-research cooperation to foster Songdo International City as a hub where bio, medical research, and advanced medical industries would be concentrated. The organizations plan to promote the phased development of the advanced medical complex by linking clinical research, life science and biotechnology research, professional workforce training, and the attraction of related institutions.