U.S. business magazine Forbes has introduced Songdo city in Incheon as an example of a futuristic city.

The magazine said in its recent feature story on Songdo that the expanse of mudflats is being transformed into a transportation hub and a smart urban center with buildings, apartments, a convention center and an integrated information network.

Forbes also reported that New York real estate developer Gale International, Morgan Stanley and Korean steelmaker POSCO are participating in the city construction project, which it said will be one of the largest private real estate development projects in the world.