On March 22, 2005, the Incheon Free Economic Zone Authority held a briefing session on the Songdo International City Cyber City construction project with Angelo Gordon & co, a U.S. real estate investment company. Keith F. Barket, general manager of real estate investment, announced a plan to invest $3 billion in the future and create a mini-cyber city for about 181,882 pyeong in Songdo International City Knowledge Information Business Complex as the first step.