IonQ and Busan Metropolitan City Forge Partnership to Propel Quantum Innovation in Korea

January 23, 2025
In a significant development for quantum technology in South Korea, IonQ, Inc. (NYSE: IONQ), a frontrunner in the quantum computing sector, has officially entered into a Memorandum of Understanding (MOU) with the Busan Metropolitan Government. This collaboration aims to promote advances in quantum science and establish a strong foundation for workforce development in the growing tech landscape of Busan, South Korea’s second-largest city and an emerging economic hub.

A Commitment to Quantum Advancement

The newly signed agreement emphasizes enhancing cooperation between IonQ and Busan’s municipal authorities. As part of the MOU, IonQ will offer quantum computing cloud services while playing an integral role in the planning and execution of joint initiatives designed to leverage quantum technology across various sectors. The local government, in return, will cultivate an environment that fosters growth within the quantum tech sector.

Mayor Park Heong-joon expressed enthusiasm about the collaboration, stating, “We are excited to join forces with IonQ to elevate Busan’s status as a premier technology center. Our aim is to position the city as a global leader in quantum computing advancements, ultimately unlocking new potential within industries such as logistics and finance.”

Building a Quantum Ecosystem

Peter Chapman, IonQ’s President and CEO, reflected on the partnership’s significance, emphasizing a united approach to stimulating innovation. “This partnership epitomizes our collective vision to nurture a thriving ecosystem for quantum technology worldwide. Collaborating with Mayor Park and the Busan Metropolitan City will not only advance quantum computing but also pave the way for plentiful economic and scientific opportunities throughout Korea.”

The MOU illustrates a strategic alliance aimed at propelling the quantum landscape in South Korea. IonQ has established a strong presence in the region with a history of partnerships including collaborations with notable organizations such as Hyundai Motors, Sungkyunkwan University, Seoul National University, and the Quantum Information Research Support Center.

Looking Ahead

As Korea stands on the brink of a quantum transformation, this alliance between IonQ and the Busan Metropolitan City represents an important step toward establishing a robust infrastructure for technological innovation. The synergy between these two entities is expected to yield notable advancements in quantum science that will benefit not just the local economy but also position Busan on the global stage.

For further details, you can access the full announcement [here](https://investors.ionq.com