Vice Minister Lee Chang-yoon of the Ministry of Science and ICT said, "We will launch a Quantum Strategy Committee within the first quarter of this year to discuss a top strategy related to quantum technology."
On the 9th, Vice Minister Lee said during the "K-Quantum Square Meeting" held at the L Tower in Yangjae, Seoul, "This year will be the first year of commercialization of quantum science and technology."
The "K-Quantum Square Meeting" is an event set up to share the latest trends in quantum technology and facilitate networking between the scientific community and the industry. It began in 2021 and marks its fourth event this year. This year, over 450 participants attended, including Vice Minister Lee, Professor Kim Jae-wan from the Institute for Basic Science, and Professor Jung Yeon-wook from Sungkyunkwan University.
The Quantum Strategy Committee is a multi-ministerial organization established under the "Act on the Promotion of Quantum Science and Technology and Quantum Industry" which took effect in November last year. Chaired by the Prime Minister, it includes eight central government ministries and private experts, gathering industry, academia, and research to discuss domestic quantum technology development plans, making it a crucial organization for fostering the quantum technology industry. Although it was scheduled to launch at the end of last year, it has not yet been established due to the ongoing state of emergency and impeachment political situation.
Lee Jong-woo, head of the Quantum Science and Technology Industry Team at the Ministry of Science and ICT, noted, "While the composition of the Quantum Strategy Committee's members is delayed, preparations for its launch are complete" and added, "We are working hard to ensure it can launch in a short time."
He further stated, "The committee is a decision-making body, and the agendas to be addressed in the committee are already practically prepared" and noted, "There should be no major issues with advancing policies."
The government plans to strengthen investment, designating this year as the first year for quantum technology. The budget for quantum technology related projects this year is 198 billion won, an increase of 54.1% compared to last year. By adding the budget for basic research support projects and the government-funded research institutes, the estimated investment scale is projected to reach 300 billion won.
Vice Minister Lee remarked, "I believe quantum technology will achieve industrial results within the next 10 years" and noted, "The rising stock prices of corporations related to quantum technology also reflect expectations for future growth."
The government will promote the industrialization of quantum technology, which has remained in basic science, based on support projects. Countries around the world are designating quantum technology as a strategic technology and are competing in this area. To secure future industrial competitiveness, South Korea needs to proactively acquire key technologies related to quantum technology.
Jung Yun-chae, head of the Korea-U.S. Quantum Technology Cooperation Center, said, "The United States is supporting policy by sharing the supply chain and utilization of quantum technology" and added, "The supply chain includes key partner countries with major technologies."