The 42nd Annual Meeting of the World Economic Forum has opened in Davos, Switzerland.

The theme of this year's five-day forum is, "The Great Transformation: Shaping New Models."

Some 40 heads of states and 26-hundred politicians, businesspeople and academics have gathered to discuss the euro zone debt crisis and global economic troubles.

German Chancellor Angela Merkel is expected to present solutions to the euro zone crisis in her opening address at the forum.

From South Korea, Bank of Korea Governor Kim Choong-soo, Trade Minister Park Tae-ho and former Prime Minister Han Seung-soo are attending the forum.

Meanwhile, protesters from last year's Occupy Wall Street movement in the U.S. have launched "Occupy Davos" and unveiled "Camp Igloo," which will serve as their base for protest throughout the forum.