South Korea will pour more than 3 trillion won ($2.3 billion) into quantum science and technology by 2035, aiming to become the world’s fourth-largest powerhouse in the sector. The capital allocation is more than tenfold the quantum technology funding in the country between 2019 and 2023.
The investment commitment fell from 3.5 trillion won, tentatively set in May. It is because the private sector hasn’t decided its funding amount from 2028 to 2035, according to the science and ICT ministry.
The ministry said on Tuesday the government will pour 2.4 trillion won into the promising fields of physics and engineering by 2035. The private sector will inject a combined 600 billion won by 2027 and will then invest more funds, considering the pace of technological development and business conditions.
Korean President Yoon Suk Yeol delivers a speech at the government presentation on investment in quantum technology (Courtesy of Yonhap News)
AMBITIOUS PLANS
Asia’s fourth-largest economy aims to raise its quantum technology advancement to the US’ 85% by 2035 from 62.5% now.
In efforts to achieve the goal, the ministry has partnered with corporates such as tech giant International Business Machines Corp. (IBM) and quantum computing firm IonQ Inc. to train quantum technology experts.
Korea plans to increase the number of doctoral quantum researchers from the current 384 to 2,500 by 2023, as well as the workforce with bachelor's and master's degrees from 1,000 to 10,000 during the same period. It will also dispatch 500 local experts overseas every year.
The government has an ambitious plan to increase its global quantum technology ranking to fourth with a 10% market share by 2035, from the current 10th with 1.8%. Additionally, it aims to raise the number of local firms that supply or use the technology from 80 to 1,200 during the same period.
The authorities will commercialize quantum computers with more than 1,000 qubits, nationwide communication networks and sensors related to the technology in stages.
A qubit is the basic unit of information in quantum computing, and quantum computers with more qubits can suppress errors and perform better.
Quantum computers with more than 1,000 qubits, or quantum bits, are yet to be launched in the global market. IBM will unveil Condor this year, the first universal quantum computer with 1,121 qubits.
Before the ministry’s announcement, President Yoon Suk Yeol said the government will create a platform that connects Korean quantum researchers across the globe. Based on the platform, the authorities will build a robust infrastructure to develop quantum computing systems, communications and sensors, Yoon added.
Quantum technology has enormous potential to change the world and will innovate the economy and chemical, medical, security and energy sectors, the president said.
SK Telecom has developed a quantum random number generator chip for Samsung smartphones (Courtesy of SK Telecom)
QUANTUM RESEARCH IN PRIVATE SECTOR
Korea’s major companies, such as Hyundai Motor Co., Samsung Electronics Co., LG Electronics Inc., SK Telecom Co. and POSCO Holdings Inc. are boosting their efforts to develop and use quantum technologies in their businesses.
Hyundai Motor has been using quantum computing to discover cheaper alternatives to platinum, a catalyst for hydrogenation, since April of this year. The Korean auto giant plans to substitute the pricey metal used for NEXO, its hydrogen fuel cell passenger car.
Samsung is conducting research to control quantum tunneling, which takes place when manufacturing 1-nanometer chips. The tunneling effect can interrupt ultra-fine semiconductor processes.
LG, a home appliance giant, has been using quantum computing for research on new materials for organic light-emitting diode (OLED) and robot navigations. SK Telecom, Korea’s top mobile carrier, has developed
