Insider Brief:
- South Korea launches a ₩1 trillion Science and Technology Innovation Fund, with a dedicated account allocating ₩20 billion annually for quantum startups over four years.
- The government plans to train 2,500 quantum researchers to expand the talent pipeline and strengthen national quantum capabilities.
- Key initiatives include developing 1,000-qubit quantum computers, expanding quantum infrastructure, and integrating quantum cryptography into national security.
- Industry experts criticize the lack of additional investment, noting that South Korea lags behind the U.S., China, and the U.K. in quantum funding and industrialization efforts.
- Image Credit: Ministry of Science and ICT
- Editor’s Note: Source articles have been translated from Korean to English using ChatGPT.
PRESS RELEASE — According to a recent series of articles from ChosunBiz (here, here, and here), South Korea is launching a dedicated quantum investment fund and workforce development initiatives as part of its broader national strategy for quantum science and technology. The announcement follows the first meeting of the Quantum Strategy Committee, held on March 12 at the Korea Research Institute of Standards and Science (KRISS) in Daejeon. The committee serves as the country’s highest-level policy body for quantum-related decision-making. Acting President Choi Sang-mok, who is also Deputy Prime Minister and Minister of Economy and Finance, presided over the meeting, highlighting the economic and national security implications of quantum technology.
The government previously committed ₩198 billion (approximately $136 million) in quantum-related investments for 2025, which is a 51.4% increase from the previous year. However, the Ministry of Science and ICT stated that no additional funding would be allocated through a supplementary budget, despite criticism that South Korea’s investment lags behind other countries. The United States, China, and the United Kingdom have announced multi-billion-dollar investments in quantum computing, communications, and sensing.
“We understand that the investment is insufficient, but there are no plans for additional budget allocations at this time,” Lee Chang-yoon, First Vice Minister of Science and ICT, stated during a press briefing.
₩1 Trillion Science and Technology Innovation Fund with Quantum-Dedicated Account
As part of its long-term investment strategy, the South Korean government is establishing a ₩1 trillion (approximately $687 million) Science and Technology Innovation Fund, focused on national strategic technologies. The fund’s structure includes ₩500 billion from financial institutions such as Shinhan Bank, Industrial Bank of Korea, and Woori Bank, while venture capital firms and accelerators will contribute ₩500 billion in matching funds. It will be deployed over four years at a rate of ₩250 billion per year.
A dedicated account within this fund will allocate ₩20 billion ($15 million) annually for quantum startups, amounting to ₩80 billion ($60 million) over four years. Additional quantum-related investments may also come from other sections of the fund. The fund’s specific investment allocations will be finalized later this year, according to a government official quoted by ChosunBiz.
“Once the fund’s detailed operation plan is finalized in the second half of this year, the exact scale of investment in the quantum sector will also be confirmed,” an MSIT official stated (translated). “Given the state of the domestic quantum startup ecosystem, ₩20 billion annually represents a significant investment.”
Government Plans to Train 2,500 Quantum Researchers
In addition to investment, South Korea is focusing on workforce development to expand its quantum talent pipeline. Choi Sang-mok announced that 2,500 new researchers will be trained, emphasizing that collaboration with multiple sectors will be necessary to accelerate quantum adoption.
“Quantum science and technology is a game-changing field from economic, societal, and national security perspectives,” Choi stated during the meeting. “Quantum computing could break encryption systems, quantum communication can prevent information theft at the source, and quantum sensors can detect stealth submarines. These capabilities highlight the critical importance of quantum technology.”
South Korea’s talent development efforts align with global trends. India’s National Quantum Mission, announced in 2023 with a budget of ₹6,000 crore ($730 million) over eight years, also prioritizes training quantum specialists and creating research infrastructure.
Industrialization, Global Cooperation, and Security Applications
Beyond research and talent development, the government is also focused on accelerating quantum industrialization. The “Quantum Initiative Implementation Strategy,” detailed here and here, includes:
- Launching projects to develop 1,000-qubit quantum computers, quantum repeaters, and GPS-free quantum navigation sensors.
- Strengthening South Korea’s quantum supply chain by supporting materials, components, and equipment industries.
- Expanding infrastructure, including quantum foundries and testbeds, to support manufacturing.
- Hosting a global quantum cooperation forum and increasing international partnerships.
- Integrating quantum technology into national security applications, focusing on quantum cryptography and advanced sensing for military use.
Industry Reactions and Calls for Greater Investment
Despite the new funding commitments, industry experts have expressed concerns about South Korea’s competitive position. The U.S., China, and the U.K. have announced significantly larger quantum investments, with China recently committing ₩200 trillion ($137 billion) to quantum, AI, and hydrogen battery technologies.
“Since the end of last year, innovative technologies related to quantum computing have been pouring out from the United States and China, yet our government continues to repeat only the foundational discussions about fostering basic technologies and human resources.,” a senior researcher at a government-funded quantum institute told ChosunBiz.
Experts also stress that the government’s role should be to attract large corporations into the sector.
“The government’s past investments focused on basic research, infrastructure, and talent,” said Han Sang-wook, President of the Korea Quantum Information Science Association. “Now, it must provide the initial push for industrialization with additional funding. The government should also send a clear message to encourage large corporations to invest more aggressively in quantum technology.”
With the Quantum Strategy Committee now operational, South Korea is consolidating efforts across ministries to expand quantum capabilities. However, the current investment scale remains a concern, particularly as global competitors rapidly increase funding. While the ₩1 trillion Science and Technology Innovation Fund provides a structured investment mechanism, industry experts argue that further commitments specific to quantum technology may be needed to sustain South Korea’s quantum ambitions.
