Kim Dong-yeon Attending 'Davos Forum' Meets Over 50 Global Political, Economic, and Business Leaders

Gyeonggi Province Governor Kim Dong-yeon meets with key global figures at the 2024 World Economic Forum

Kim Dong-yeon, Governor of Gyeonggi Province, who departed overseas on the 13th to participate in the ‘2024 World Economic Forum’ (WEF, Davos Forum), returned home on the 21st after a 7-night, 9-day schedule.

Well known as the Davos Forum, the World Economic Forum is the largest brainstorming meeting where renowned global business leaders, economists, and politicians gather to discuss economic issues and seek international practical solutions.

It holds authority and influence comparable to being called the ‘World Economic Olympics,’ which can be seen from the caliber of invited participants. This year’s forum hosted more than 3,000 global figures, the largest ever, including 60 heads of state and 370 minister-level officials.

At the forum, Governor Kim met with over 50 notable figures including Børge Brende, Chairman of the World Economic Forum; Abdullah bin Touq Al Marri, UAE Minister of Economy; Joachim Nagel, President of the Deutsche Bundesbank; Al Gore, former U.S. Vice President; Fatih Birol, Executive Director of the International Energy Agency (IEA); Kristalina Georgieva, Managing Director of the IMF; Brian Kemp, Governor of Georgia, USA; Chuck Robbins, Chairman of Cisco Systems; and Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

As Governor Kim described it, amidst a ‘golden fishing ground’ where world-class leaders gathered in one place like ‘half water, half fish,’ he exchanged ideas, engaged in discussions, and built relationships with individuals who could contribute to the future of Gyeonggi Province and South Korea. These were people and numbers impossible to meet individually by visiting one by one.

On the 19th (local time), through a live broadcast on social media, Governor Kim said, "Meeting numerous people was a valuable opportunity to understand how the world is operating and what challenges need to be addressed. It was the greatest networking platform." He added, "The world is contemplating international politics, geopolitical risks, trade decline, and cooperation, while preparing for semiconductor chip wars, production-type AI, and renewable energy utilization. This trip made me think about what we must fiercely consider, fight for, and prepare."

He also expressed his reflections, saying, "I feel a heavy heart thinking about how to turn many parts of South Korea, which are currently regressing, into forward progress, accelerate the pace, and create a solid foundation to solve these problems well."

During this trip, Governor Kim attended the International Global World Economic Leaders (IGWEL) meeting, where he had a valuable opportunity to discuss economic issues and network with participants. He was the only representative from a global local government to attend the IGWEL economic session, which is exclusively for invited top-level officials such as finance ministers, central bank governors, and international organization heads from major countries.

After participating in the meeting, Governor Kim said, "I was able to gain a lot of inspiration and was very impressed. It also made me worry whether South Korea is too disconnected from the rapidly changing international situation."

On the 15th, he participated in the ‘Innovator Community’ meeting, which gathered over 90 representatives of global unicorn companies (unlisted startups valued at over 1 trillion KRW and established within 10 years). Governor Kim was the only government official among the participants, exchanging greetings with unicorn company CEOs and discussing cooperation plans with Gyeonggi Province.

At the meeting with unicorn company representatives, Governor Kim met Sam Altman, CEO of OpenAI and famous developer of ChatGPT, exchanged greetings, and agreed to discuss specific cooperation plans in the future.

Governor Kim also organized and acted as a moderator for a special session titled ‘Gyeonggi and Innovators.’

In this session, he stated, "Gyeonggi Province is the center of South Korea’s economy and advanced industries," and requested investment from global startups into Gyeonggi Province.

He emphasized, "We plan to promote the ‘Pangyo+20 Project,’ creating 660,000 square meters (200,000 pyeong) of startup space across more than 20 regional hubs centered on Pangyo Techno Valley, Korea’s Silicon Valley. If you are looking for promising venture startups to start or invest in, or good cooperation partners, Gyeonggi Province is the optimal place."

Additionally, he met with Paul Farrell, Vice President of BorgWarner, a global automotive parts company, to discuss investment attraction plans for Gyeonggi Province. He also met Kai Beckmann, CEO of Merck Group Electronics, a global science and technology company from Germany, requesting investment in the electronic materials sector in Gyeonggi Province. Beckmann responded positively regarding additional investment in Gyeonggi Province.

Governor Kim worked to strengthen international exchanges by meeting representatives of central and local governments in the Asia region.

He met with Tharman Shanmugaratnam, President of Singapore, and Josephine Teo, Minister for Communications and Information, proposing enhanced exchanges by saying, "We want to send Gyeonggi youth to Singapore universities."

He reunited with Li Lecheng, Governor of Liaoning Province, China, and met with Eknath Shinde, Chief Minister of Maharashtra, India, exchanging views on strengthening friendly cooperation between the two regions. Chief Minister Shinde requested Governor Kim’s assistance in cooperating with global semiconductor companies, and Governor Kim proposed active cooperation between the two regions along with inviting Chief Minister Shinde to visit Gyeonggi Province.

Governor Kim also met with Fatih Birol, Executive Director of the International Energy Agency (IEA), solidifying cooperation with the IEA. Birol proposed, "As the Chair of the World Economic Forum’s Energy Advisory Board, I would like to invite Governor Kim as a speaker at next year’s forum."

For his final schedule, Governor Kim visited the ?le-de-France region in France and had breakfast with Governor Val?rie P?cresse, exchanging opinions on concrete practical measures regarding startups, climate change, advanced industries, and youth exchanges.

An important achievement during this trip was the agreement to establish a 4th Industrial Revolution Center in conjunction with the Davos Forum.

Gyeonggi Province plans to establish the 4th Industrial Revolution Center in May under the name ‘Korea Innovation Center for Humans and the Earth.’ The 4th Industrial Revolution Center is a regional cooperation hub established through consultations with countries or regions at the World Economic Forum, with 18 centers worldwide. Gyeonggi Province plans to focus research on climate change, smart manufacturing, and startups in cooperation not only with the private sector but also academia including universities.