On December 18, 2009 (Friday), the Ministry of Knowledge Economy, Incheon Free Economic Zone (IFEZ), General Electric Company, and Bio Research Complex signed an agreement for the establishment and project promotion of the GE Global Ubiquitous Health Research and Development Center. The agreement was prepared to create a research and development base for ubiquitous health in Songdo International City and to promote related technology development and commercialization. General Electric Company is a global company in medical devices and advanced technologies, and the new center will contribute to expanding cooperation in the bio and healthcare industries and strengthening the advanced industrial foundation of Songdo International City.