On Thursday, October 7, 2010, IFEZ signed a consulting agreement with Ecuador regarding the IFEZ urban development model. This agreement was initiated to share the Incheon Free Economic Zone's development experience and urban management model—including Songdo International City—internationally. Leveraging its expertise in mixed-use city development, investment attraction, infrastructure building, and international business functions, IFEZ plans to assist Ecuador in shaping its urban development plan. The agreement is expected to bolster international cooperation in urban development and further promote the Korean urban development model worldwide.