Gyeonggi Province Governor Kim Dong-yeon (sixth from the left) is taking a commemorative photo after signing the 'Cooperation Agreement (CA) on the Establishment of the 4th Industrial Revolution Center' with Klaus Schwab, Chairman of the World Economic Forum (sixth from the right), at Dodamso in Suwon on the 28th of last month.
Gyeonggi Province has signed an agreement with the World Economic Forum (WEF) to collaborate on the ‘Centre for the Fourth Industrial Revolution (C4IR)’, which is set to open in October.
Gyeonggi Province announced on the 1st that Governor Kim Dong-yeon signed a ‘Cooperation Agreement (CA) on the Establishment of the Centre for the Fourth Industrial Revolution’ with Klaus Schwab, Chairman of the World Economic Forum, at Dodamso (the former governor’s official residence) on the 28th of last month.
On the day, Governor Kim compared the global competition to a short track race, saying, "The corner sections of short track are challenging for all athletes, but they also present opportunities to overtake the leader." He added, "At the Davos Forum in January, I heard that Korea is standing at another corner of the short track, and if we stumble at this corner, we will fall behind. This left a deep impression on me. I believe that through the Fourth Industrial Revolution Centre we will build together, we can move ahead."
He further stated, "Unlike other Centres for the Fourth Industrial Revolution, the Gyeonggi Province Centre will focus on supporting AI-based startups as well as leading efforts in climate response."
In response, Chairman Klaus Schwab explained the necessity of the Centre for the Fourth Industrial Revolution, saying, "As we transition from an industrial society to a knowledge society, there are significant changes in how companies operate and how citizens live. To respond to these changes, new types of platforms are needed, and it is necessary to support small-scale companies to engage in creative activities."
He also expressed expectations, saying, "Gyeonggi Province’s Centre for the Fourth Industrial Revolution is special as the first centre focusing on startups. It will play a pioneering role among other Centres and help create a new startup ecosystem."
Following the signing of the agreement, Gyeonggi Province will begin official preparations for the Centre’s opening in October.
The Centre for the Fourth Industrial Revolution is a regional cooperation hub established in consultation with countries or regions by the World Economic Forum to respond to the Fourth Industrial Revolution. Since its first establishment in San Francisco, USA in 2017, 18 centres are currently operating worldwide, including in Michigan, Texas, Japan, Israel, Saudi Arabia, Germany, and India.
Earlier, in January, Governor Kim signed a Memorandum of Understanding (MOU) for the establishment of the Centre for the Fourth Industrial Revolution at the World Economic Forum (Davos Forum). During the forum, Governor Kim exchanged views with numerous global CEOs, startups, and opinion leaders, including Børge Brende, Chairman of the World Economic Forum, gathering extensive advice and opinions on operating the Centre. In May, he visited the world’s first Centre for the Fourth Industrial Revolution in San Francisco and discussed the role and operational plans of the Gyeonggi Province Centre with Sebastian Buckup, Head of the World Economic Forum’s Centre for the Fourth Industrial Revolution, and various stakeholders.
The World Economic Forum, established in 1971, is a public-private partnership-based non-profit international organization. It is the world’s largest think tank and premier networking organization for the global economy and industry, hosting the Davos Forum annually in Switzerland every January.
Chairman Klaus Schwab founded the World Economic Forum in 1971 and has led it ever since. Governor Kim has a history of meeting with Chairman Schwab during his tenure as Deputy Prime Minister for Economy in 2018, where they discussed the establishment of a Centre for the Fourth Industrial Revolution in Korea and the advancement of Korean youth into the World Economic Forum.
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