On Wednesday, December 15, 2021, IFEZ signed a memorandum of understanding (MOU) with BMW Korea Co., Ltd. to build a BMW R&D center in charge of developing and testing automotive electrical systems. Construction of the R&D center on 5,295㎡ of land in the Incheon Hi-tech Park (IHP) urban high-tech industrial complex in Cheongna International City will begin next year and be completed in 2023. The BMW R&D Center, together with its German headquarters, plans to conduct research in various future mobility fields through technology exchanges between Germany and Korea, including autonomous driving, connectivity, and electrification technology.