The IT trade between Korea and the European Union is expected to grow further, based on the growing ties between the two regions in the IT field. On February 9, Chin Dae-je, minister of information and communication, and Frans Hampsink, chairman of the European Union Chamber of Commerce (EUCCK), signed an MOU for cooperation in the IT field. The signing of the agreement is expected to provide a momentum for Korean SMEs to boost their IT exports. So far, Korean SMEs in the IT field have experienced difficulties in making inroads into the European market due to the lack of information and business networks. In addition, the advancement into Europe of technological developments such as DMB and WiBro, the end results of IT839 strategy, is anticipated to gain momentum through the assistance of EUCCK. Furthermore, the signing of the cooperation agreement is expected to enliven the bilateral trade in the IT field. Minister Chin Dae-je said, 'The signing of an MOU for IT cooperation between MIC and EUCCK is highly meaningful for both sides, and was made possible through relentless talks between government and industry leaders to further invigorate IT exchanges between the two regions.' In response to Minister Chin's remarks, Hampsink said he was pleased to sign the agreement since EUCCK, too, can share Korea's experience in achieving remarkable progress in the IT field. He said that he has high expectations the agreement can play an important role in enhancing IT exchanges in the future. The contents of the agreement for accelerating IT exchanges and cooperation between the two sides include continuous exchanges of information for the elimination of investment barriers, SME and R&D cooperation, and systematic assistance by EUCCK for any Korean projects launched under the auspices of MIC with an aim to make advancement into Europe. As part of measures to carry out the agreement, the two sides also agreed to hold regular meetings and seminars at least once a year each.