COUNTRY FOCUS : SOUTH KOREA
With South Korea ’ s recent investment of over $ 2.3 billion in the global quantum economy , covered in the 2024 State of Quantum Report from Lakestar , the Terra Quantum MegazoneCloud MoU highlights the role European quantum technology can play in the Asian market .
Under the terms of the agreement , Terra Quantum and MegazoneCloud will combine their complementary strengths to develop cutting-edge Quantum Computing algorithms and applications tailored to Drive technological advancement across Asia – with a focus on the South Korean market .
“ Our partnership with MegazoneCloud represents a pivotal step in our mission to democratize access to Quantum Computing on a global scale ,” said Markus Pflitsch , CEO and Founder , Terra Quantum .
“ Combining our expertise in quantum software development with MegazoneCloud ’ s cloud solutions , we are well-positioned to unlock value for private and public organizations in South Korea and Asia which marks a strategically important step in our efforts to further expand into the Asian market .”
Max Lee , CEO , MegazoneCloud , said : “ This synergistic collaboration empowers us to deliver cutting-edge , quantum-enhanced solutions that create significant impact and value for customers across industries .”
South Korea is aiming to boost its quantum technology capabilities to 85 % of US levels by 2035 , through a substantial increase from previous funding levels , according to the Korea Quantum Science and Technology Strategy by the Ministry of Science and ICT .
Government and local authorities are looking to position the country as a significant player in the global quantum economy . p
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