South Korea looking to lead the way in quantum technology
In an era of global technological competition, where the technologies of the future determine the fate of the national economy, security and diplomacy, South Korea’s goal is to become one of the world’s most technologically advanced nations, and to lead in key new technology sectors.
South Korea looking to lead the way in quantum technology
2T2C: Talent, Technology, Capital, Cognition

South Korea looking to lead the way in quantum technology

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Fruzsina Franciska Halász 06/04/2023 07:30

Technological innovation is the driver of South Korea’s economic growth and national competitiveness. In an era of global technological competition, where the technologies of the future determine the fate of the national economy, security and diplomacy, South Korea’s goal is to become one of the world’s most technologically advanced nations, and to lead in key new technology sectors. The Yoon Suk-yeol administration’s policy plan for 2023 includes quantum technology as a priority development area for future technologies. The country has the explicit ambition of becoming one of the world’s top four quantum technology powers by 2030.

Experts say quantum technologies represent the next wave of digital transformation. Within ten years, quantum computing, quantum communications and quantum sensing could fundamentally change our daily lives, our societies and the global economy. These technologies promise exponentially faster problem-solving than the world’s currently most advanced non-quantum supercomputers, interception-proof communication systems or sophisticated sensor technologies. This is the ‘quantum advantage’ that quantum technologies have over conventional technologies.

Quantum technologies could bring about massive changes in areas such as optimisation, mechanical simulation and machine learning. They could also lead to significantly greater efficiency than current technologies in risk management, cyber security, logistics, pharmaceutical and materials science discoveries, or in the search for answers to climate change, for instance.

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According to the recent study Quantum Technologies by France’s Capgemini Research Institute, quantum technology research has accelerated significantly in recent years and the technology has started to move from the theoretical to the practical. According to scientific forecasts, early practical application of the associated technologies is expected in less than five years. In addition to giants such as IBM, Google, JP Morgan, Volkswagen Group and GSK, governments of major powers (notably China, the US, the UK, Germany and Japan) are increasingly investing in research and development in quantum technologies. South Korea is also looking to join the international competition in quantum technologies, currently spearheaded by the US and China.
Photo: iStock
In order to ensure South Korea’s global technological leadership, President Yoon Suk-yeol announced the National Strategic Technology Nurture Plan on 28 October 2022, which sets out a national policy to support strategic technologies that contribute to social welfare and national security as part of the country’s long-term growth agenda. The support plan identifies quantum technology as a priority national strategic technology.

South Korea has the explicit goal of becoming an industry leader in quantum technology — quantum computing in particular. The government aims to develop a quantum computer by 2026 and other quantum products (such as quantum sensors capable of detecting faulty semiconductors) by 2027. With these steps, South Korea aims to further strengthen its position in the geo-technological race of the 21st century.

The author is a Junior International Expert at Magyar Nemzeti Bank (the central bank of Hungary)

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