On Tuesday, June 26, 2007, IFEZ signed an investment memorandum of understanding with ProLogis of the United States for participation in an IFEZ logistics project. ProLogis is a global developer of logistics facilities and plans to invest KRW 186 billion (USD 200 million) to build an advanced logistics center in the IFEZ port hinterland logistics complex. The memorandum of understanding is expected to contribute to expanding international logistics infrastructure and strengthening the competitiveness of the logistics industry.