On Thursday, June 19, 2008, IFEZ signed a business agreement with the Electronics and Telecommunications Research Institute. The agreement was pursued to establish a cooperative framework for expanding the ubiquitous information technology base of Songdo International City and fostering advanced industries. The Electronics and Telecommunications Research Institute is a research organization in the fields of information and communications, electronics, and convergence technologies, and both sides plan to promote the creation of a u-IT cluster through research and development cooperation, technology exchange, and the identification of pilot projects.