Gyeonggi Province Governor Dong Yeon Kim, who is attending the World Economic Forum (Davos) to strengthen international exchanges and attract investment, had the opportunity to discuss economic issues with world economic leaders.

Governor Kim attended the Informal Gathering of World Economic Leaders (IGWEL) on “Preventing Economic Fracture” at the Davos Congress Center on the morning of January 18, local time in Switzerland (Central European Time).

The World Economic Leaders’ session is open only to invited heads of state, including the IMF Managing Director, finance ministers, central bankers and heads of international organizations. Governor Kim is the only Korean leader invited by the World Economic Forum to attend the IGWEL session. Governor Kim is also the only Korean local government leader invited to the World Economic Forum Annual Meeting this year.

Gyeonggi Province explained that Governor Kim was invited not only because of his current position as the head of the regional government, but also because of the wealth of experience and knowledge he has gained from his previous positions as Deputy Prime Minister and Minister of Economy and Finance, his work at the World Bank, and as President of Ajou University.

The IGWEL session, chaired by IMF Managing Director Kristalina Georgieva, was attended by 50 participants, including finance ministers, central bankers, and representatives of international organizations.

The theme of the session, “Preventing Economic Fracture,” was chosen to foster discussion on the need for an inclusive and integrated global market recovery in the context of a fragile and uncertain global economy. The participants and the remarks they made during the session were not disclosed.

“It was very inspiring and impressive to see world leaders come together to discuss the global economy… It also made me realize that Korea is not out of touch with the current tense international situation,” said Governor Kim after attending the session.

Following the World Economic Forum, a special session titled “Gyeonggi and the Innovators” was held with Governor Kim as the moderator.

During a live Nuri Communication Network broadcast on January 17 at 11:30 p.m. CET (7:30 a.m. KST), Governor Kim said, “An interesting thing happened: The World Economic Forum created a session for unicorns (giant startups) and invited me to speak,” while announcing the session.

During that session, Governor Kim said, “Gyeonggi Province is the center of Korea’s economy and high-tech industry… We are striving to create a ‘startup paradise,’ which was a pledge made during my presidential and gubernatorial campaigns.

Governor Kim said Gyeonggi Province’s startup policy direction is threefold: clustering (space), networking (connectivity) and globalization.

“We plan to promote the ‘Pangyo+20 Project,’ which will create 660,000㎡ (200,000 pyeong) of startup space in more than 20 regional locations, centered on Pangyo Techno Valley, the Silicon Valley of Korea… Gyeonggi-do currently operates GAIA, an industry-academia-government networking program, and will create various exchange and cooperation programs among startups,” Governor Kim explained. He also revealed globalization plans, saying that he plans to hold a large-scale international investment promotion fair at Pangyo Techno Valley in the second half of this year, inviting more than 3,000 domestic and foreign startups and more than 1,000 investors.

GAIA, which stands for “Gyeonggi Academia-Industry Alliance,” is a permanent council of universities, associations and research institutes involved in six future growth industries, including digital transformation and semiconductors.

After the introductions, Governor Kim said, “Come to Gyeonggi Province. We will definitely help you… If you are looking to start a business, seeking a promising startup company to invest in, or searching for a good cooperation partner, Gyeonggi is an ideal place for you,” Governor Kim emphasized.

Representatives from seven startups attended the Gyeonggi session. “I attended because Korea is well-informed and I am particularly interested in Gyeonggi Province… I appreciate Governor Kim’s explanations and want to actively participate in Gyeonggi Province’s startup policy,” said one representative.

Of particular note, Saeju Jeong, CEO of Noom, a global digital healthcare startup from Korea, said, “It was very difficult for me to come to the U.S. as a newcomer… We will actively cooperate and help Koreans create a startup boom.” Robert Falck, CEO of Einride, a Swedish manufacturer of electric trucks and autonomous vehicles, said, “I would like to do business with Korea in the advanced mobility industry… I hope to visit Gyeonggi Province soon to discuss business.”

Some CEOs shared their connections to Korea. Daniel Nathrath, CEO of Ada Health, a German medical AI app development company, said, “My mother is Korean, so I know Korea well and have worked in Korea… I would like to do business with Gyeonggi Province.”

The startup representatives concluded the session by expressing their intent to visit Korea and meet again sometime this year.