On Monday, June 18, 2007, IFEZ signed a land sale agreement with Kotec. Kotec is a manufacturer of monitors for specialized industrial use and secured an investment of KRW 9.3 billion (USD 10 million) from Hong Kong’s Hsin Chong Group. The company plans to build an advanced industrial display monitor production facility and a research and development center on a site of about 58,000 pyeong in the Knowledge Information Industry Complex of Songdo International City.