Pasqal invests $52M to boost quantum computing in Korea
The investment by the French company is part of a major strategic expansion in South Korea, marked by a series of partnerships and support from the Seoul Metropolitan Government and the Korean government.
French quantum computing firm Pasqal will invest USD 52 million in South Korea, creating more than 50 highly skilled jobs, bringing its industry-leading neutral atom Quantum Processing Unit (QPU) to the country, to advance research and development of quantum algorithms and industry-ready applications.
The investment by the French company is part of a major strategic expansion in South Korea, marked by a series of partnerships and support from the Seoul Metropolitan Government and the Korean government, Pasqal announced.
This initiative, led and financed by Pasqal, and backed by LG Electronics, Dunamu & Partners, the Korean Ministry of Trade, Industry and Energy, and Seoul Metropolitan Government, represents the company’s long-term commitment to Korea.
At the heart of this expansion are strategic investments from LG Electronics, the global leader in appliances and consumer electronics, and Dunamu & Partners, the investment arm of Dunamu which operates South Korea’s leading digital asset exchange Upbit, Pasqal said.
“By partnering with LG Electronics, Dunamu & Partners, and Seoul Metropolitan Government, we are creating a unique ecosystem that will accelerate the adoption of quantum computing across Asia Pacific,” said Loïc Henriet, CEO of Pasqal.
“We are very pleased to partner with Pasqal, who is poised to play a leading role in setting new global standards for quantum technology and unlock possibilities beyond the limits of classical computing,” Kangjoon Lee, CEO & Managing Director of Dunamu & Partners, said. “We are also confident that Pasqal’s partnerships and research initiatives based in South Korea will contribute meaningfully to the development and growth of the country’s quantum computing ecosystem.”
“The Embassy of France in Korea welcomes the new agreement between Pasqal and the city of Seoul,” Ambassador of France Philippe Bertoux said. “This new partnership exemplifies the dynamic cooperation between France and Korea in the field of advanced technologies, two countries accelerating innovation and jointly shaping the infrastructures of the future.”
“Seoul is proactively responding to the future technological environment that will be driven by quantum computing by taking full-fledged steps to establish the ‘Seoul Quantum Ecosystem’,” Mayor Oh Se-hoon of Seoul said. “Seoul is a city where outstanding talents and companies are concentrated to support Pasqal’s innovation, and this agreement will once again serve as an opportunity to reaffirm Seoul’s technological competitiveness.”
