Songdo International Business District (IBD) is a master-planned international business center being developed on 1,500 acres of reclaimed land along Incheon's waterfront.  It is located 40 miles south of Seoul and will be connected to Incheon International Airport by a 7-mile highway bridge.

Songdo IBD is a Joint Venture Partnership between Gale International, one of the largest US real estate developers, and POSCO E&C, a subsidiary of POSCO Steel, the 2nd largest steel company in the world.  It represents the first project of its kind between a US developer and a Korean company.  This project is estimated to cost in excess of $20 billion, making it the largest private development project ever undertaken anywhere in the world.   

The Master Plan, designed by world-renown architects Kohn Pedersen Fox (KPF), contains elements of other landmark cities while creating a new, unique blend - a "Synergy City."  Cities like Sydney Venice, Paris, New York and London all have served as blueprints of specialized designs that contributed to Songdo's overall structure.  A "Synergy City" is one that contains all of the major functions that are needed to support the needs of those who live and work there.