On January 5, 2010 (Tuesday), IFEZ signed a memorandum of understanding with Hongik University to create the Songdo Convergence Design Campus. The memorandum established a foundation for cooperation to develop an education and research hub in Songdo International City where design, culture, and industry are combined. The two sides plan to further specify the campus development plan and promote cooperation for fostering creative talent, revitalizing the design industry, and strengthening the functions of the international city.