The Gyeonggi provincial government and the World Economic Forum (WEF) will establish a Centre for the Fourth Industrial Revolution (C4IR) in October. The agreement was signed on June 28 in Gyeonggi province by Klaus Schwab, founder and executive chairman of the WEF, and Kim Dong-yeon, governor of Gyeonggi province. According to the agreement, the center will be hosted by the Gyeonggido Business and Science Accelerator.
The C4IR is a regional cooperation hub established by the WEF in collaboration with various countries and regions to respond to the Fourth Industrial Revolution. Since the first center was established in San Francisco in 2017, 18 centers have been operating worldwide, including in Michigan, Texas, Japan, Israel, Saudi Arabia, Germany, and India.
The Gyeonggi provincial government anticipates that C4IR Korea will play a role in nurturing local startups into unicorn companies (valued at over $1 billion). To achieve this, they plan to actively utilize the WEF’s accumulated trend information, advanced technology and industry analysis reports, technical expertise, and global exchange networks to support local startups, small and medium-sized enterprises (SMEs), and mid-sized companies.
Kim Dong-yeon emphasized the importance of innovation in overcoming today’s challenges, stating, “The launch of the new center in Gyeonggi province will act as a regional platform for global cooperation between the public and private sectors. Through its active partnership with the WEF, the center will facilitate knowledge exchange and collaboration with the global community to foster innovation.”
Klaus Schwab highlighted the significance of the center, saying, “The establishment of a Centre for the Fourth Industrial Revolution in Gyeonggi province marks a significant new chapter in the long-standing partnership between the forum and the Republic of Korea. The upcoming center will help foster a robust and dynamic local startup ecosystem and bolster economic growth and technological progress in the broader region.”