On Thursday, May 27, 2010, the Incheon Free Economic Zone (IFEZ) Authority signed a project agreement with Inha University to develop the Inha Songdo Knowledge Industry Complex. The initiative was designed to create a mixed-use complex in Songdo International City that integrates education, research, and industry. By combining the university's research capabilities with industrial functions, both parties sought to strengthen the foundation for industry-academia cooperation, enhance regional competitiveness through the growth of knowledge-based industries, and carry out related projects in stages.