On June 17th, Vice Minister Cao Jianlin of Science and Technology and Vice Minister Yoon Sang-Jicksigned of Knowledge Economy of Korea signed an MOU on strengthening cooperation on research and commercialization of applied technologies. In the MOU, both sides fully acknowledged the role of technological innovation in promoting economic development and the importance of bilateral cooperation on R&D and commercialization of applied technologies, and agreed to establish an effective cooperation framework.