It is true to say that one of the most important conditions for business success in any country is the competitive edge of a product or service in terms of price and quality. In the case of Egypt, too, the story is not much different. However, I'd like to add another important factor, and that is how well one understands the characteristics of a market. In regard to Egypt, the most representative features of the market can largely be observed in two respects. First, there is the two-fold dimension in the selection of products by consumers. As consumers in Egypt have had experience of high-quality products from Europe and the United States, their criteria in choosing products have become highly sophisticated. On the other hand, however, it is also true that their longings for cheap prices are prevalent, as Korean exporters are frequently asked to offer discounts so as to be on par with similar products from China. To cope with this dilemma, I think it is necessary to develop relatively cheap products detached with unnecessary accessories and specs while maintaining the framework of the products on the market. This step, then, can be followed by strengthened brand images along with high-spec models with additional functions. I think this is the path we should follow. The second characteristic of the Egyptian market, I should point out, is the human network, to which local people attach great importance through their marketing practices. Since the revolution in 1952, the consolidation of political and social systems has seen a concentration of wealth among the elite echelons of the society. Accordingly, there are quite a large number of importers with bountiful human networks who have engaged in active businesses and raise their profits through the products identical to the ones sold by any other rivals. When engaging in consultations with local buyers, therefore, it is essential to confirm the business profiles and marketing capabilities of the buyers concerned. For this purpose, the Cairo Korea Trade Center has played an important role of doing the research so as to provide invaluable information relevant to local buyers and market conditions. Bright Future for IT Products in Egypt IT products are promising products to make inroads in the Egyptian market. Since the cabinet reshuffle in 2004 by Prime Minister Ahmed Nazif who had previously served as the minister of communication and information technology, the Egyptian government has been striving to beef up the IT industry as a major industry of the future. Presently, the IT industry in Egypt is in its early stage of development. The number of mobile phone subscribers today stands at about one-tenth of the population while Internet users account for about 6 percent. Nevertheless, the Egyptian government promises to transform the nation into an IT powerhouse in the Middle East and Africa. Supported by its large market base of 72 million people together with 1,150 IT-related firms and 35,000 employees, the Egyptian government has undertaken a plan to prop up the information network that includes the high-speed broadband networks such as ADSL and ISDN as well as the wireless Internet and the network for mobile phones. In addition, the government has been carrying out such projects as e-Government and e-Business to lay the foundation to become an advanced IT country. As regards to the building of IT infrastructure and hardware, the Cairo Korea Trade Center has been actively supporting Korean firms seeking new business opportunities in Egypt. As part of this aim, the center has invited Egyptian officials concerned with the building of e- Government and made arrangements for meetings with Korean companies. In addition, the trade center has been introducing promising business partners in Egypt to Korean software firms for Korea's participation in Egypt's home and office automations based on LANs. Through such work, a Korean company was able to launch and continue its business of providing the Internet service to major hotels in Cairo. Another example of our assistance in finding a local buyer that later turned out to be a success can be found in the case of a Korean firm that has developed a digital version of the Quran in the form of an electronic pocketbook.