On February 17, 2010 (Wednesday), IFEZ signed a memorandum of understanding with N-Hitech and Sanko Denki for the construction of an LED production facility. The agreement was signed to establish an LED-related production base in Songdo International City and to expand investment and manufacturing functions in the advanced parts and materials industry. Through the construction of the LED production facility, N-Hitech and Sanko Denki will enhance industrial concentration and contribute to revitalizing the high-tech industrial cluster and strengthening technological competitiveness in Songdo International City.