South Korea and the World Economic Forum (WEF) will study ways to set up a sister center to the WEF's Center for the Fourth Industrial Revolution, and work together on related research activities, Seoul's chief economic policymaker said Tuesday.
"We proposed working together for the establishment of a new center to promote the fourth industrial revolution," Finance Minister Kim Dong-yeon told reporters after a meeting with Klaus Schwab, founder and executive chairman of WEF.
"The WEF chairman responded positively to our offer," Kim said.
The fourth industrial revolution refers to a new, connected digital economy buttressed by technological breakthroughs in fields like AI, the Internet of Things, autonomous vehicles, robotics, big data computing and nanotechnology. The fusing of such industrial sectors is expected to lead to the creation of new economic and social systems and generate growth across the globe.
The WEF's Center for the Fourth Industrial Revolution in San Francisco is engaged in developing, piloting and scaling agile and human-centered governance tools. (Yomhap News)