You read it correctly!
Practical info about the Global Game Jam (GGJ) can be found in their FAQ.
So WHEN is it?
January 23rd - 25th.
The Jam officially starts at 5pm (17:00) local time. The topic of the jam and teams are formed after this time.
If you want to Jam, make sure you make an account on the GGJ site and sign up on our Jam Site. First come first serve!