On June 27, 2023, the Ministry of Science and ICT (MSIT) announced South Korea’s Quantum Science and Technology Strategy at Dongdaemun Design Plaza in Seoul. The strategy committed more than KRW 3 trillion (approximately USD 2.3 billion) in joint public-private investment between 2023 and 2035, with KRW 2.4 trillion from government sources and KRW 600 billion from the private sector.
According to the Korean government’s press release, the strategy set targets including development of a 1,000-qubit quantum computer, training 2,500 core quantum professionals and 10,000 field professionals, achieving 85 percent of leading countries’ technology levels, increasing global quantum market share to 10 percent, and nurturing 1,200 quantum technology companies by 2035. International cooperation investment would expand from KRW 13 billion (2019-2022) to KRW 210 billion (2023-2035).
MSIT Minister Lee Jong-ho said the strategy reflected conversations between President Yoon Suk Yeol and quantum scholars at ETH Zurich in January 2023. It was described as the first national strategy encompassing medium- to long-term quantum science, technology, and industry goals. Seven strategic directions were outlined, including a quantum flagship project, defense sector investment, post-quantum cryptography transition planning, and enactment of a dedicated Quantum Act.