On Tuesday, March 30, 2010, Incheon Metropolitan City and the Incheon Free Economic Zone (IFEZ) signed a framework agreement with Cisco Systems for investment in a Global Center and a strategic partnership for smart city development. The agreement was made to expand cooperation in building a smart city based on advanced information and communications technology with Songdo International City as a hub, and to establish a foundation for Global Center investment and future-oriented urban services. Cisco Systems is a company that provides network equipment and information and communications technology solutions.