Michael Jackson unveiled plans today to found an international charity entitled the World Peace Foundation for Children, and will organize a series of concerts to benefit the new organization.

Jackson has scheduled the first concert for October 11, 1998, in Seoul, South Korea, with the proceeds to aid the Korean Peace Foundation for Children, the first subsidiary group to be formed as part of the WPFC. Luciano Pavarotti and Elizabeth Taylor have already committed for the Seoul show, and the charity hopes to add additional acts in the upcoming weeks.

"I am very excited about working with my good friends Luciano Pavarotti and Elizabeth Taylor to help the scores of children around the world who wake up hungry every day," Jackson said at a press conference in Los Angeles. "The World Peace Foundation for Children has been a dream of mine for a long time."