On March 17, 2010 (Wednesday), Incheon Metropolitan City signed a business agreement with Seoul National University, the Korea Advanced Institute of Science and Technology, and Incheon Urban Development Corporation for the International BIT Port development project in Cheongna International City. The International BIT Port project will create a convergence complex for research, education, and industry-academic cooperation in biotechnology, information technology, nanotechnology, environmental technology, and energy technology, with educational facilities, research complexes, and industrial support facilities to be developed in phases.