Incheon Free Economic Zone(IFEZ) signed a land supply contract with Kaco New Energy to build manufacturing and R&D facilities in Songdo International City.

Kaco New Energy is a foreign-invested company with 85％ stakes held by Kaco, the world's second-largest solar power generation equipment maker.

The company will invest KRW 18.6 billon to build R&D and manufacturing facilities in Songdo by May 2012.

Lee Jong-chul, commissioner of the IFEZ, said that the investment will attract more global companies in green energy industries to Songdo.

Source: Yonhap News (July 14, 2011)