Gyeonggi Province Governor Kim Dong-yeon inked a memorandum with the World Economic Forum (WEF) on Monday to host a WEF Center for the fourth Industrial Revolution (C4IR) in the South Korean district during his visit to the international event in Davos, Switzerland.

The WEF C4IR is a regional institution to be established by the WEF as part of its effort to enable global cooperation and joint response to industrial changes across the world. The 4IR center in Seoul, Korea, tentatively named the Innovative Center for Humanity and the Earth, is expected to be built by May 2025.

“The institution will focus on the three pillars of innovation, including climate change, smart manufacturing, and nurturing startups,” the governor said.

Kim also attended the Innovator Communities business conference, a venue of discussion for the world’s prominent startup leaders.

Kim met with OpenAI Chief Executive Sam Altman and the duo agreed to discuss potential strategies for a partnership between the province and the tech giant in the next gathering. He also met with the United Arab Emirates (UAE) Minister of Economy Abdullah bin Touq Al-Marri and discussed cooperation plans to promote interactions between UAE firms and their Korean counterparts in Pangyo Technovalley, an industrial complex in Seongnam, Gyeonggi Province.

By Lee Jin-myung, Yoon Won-sup, Oh Soo-hyun, Lee Young-wook, Kang In-seon, and Han Yubin

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