Korean quantum firms gain foothold in US market

South Korean quantum technology companies have secured a new gateway into the US market.

The Korea Research Institute of Standards and Science announced Thursday that it signed a letter of intent with the Fairfax County Economic Development Authority on cooperation in quantum technology, aimed at helping domestic quantum firms enter the US ecosystem.

Quantum technology carries strong national strategic importance from a technology-security standpoint, making it particularly difficult for domestic companies to enter overseas markets on their own. Bridging the gap between research outcomes and actual commercialization and exports requires a global cooperation channel connecting domestic quantum industry players with a trusted local ecosystem — including customers, co-development partners and investment institutions.

KRISS is leading a 42-month project, running from 2024, to develop a quantum computing transformation scale-up valley, with 15.8 billion won ($10.2 million) in funding from the Ministry of Science and ICT and the Daejeon Metropolitan Government. Through the project, KRISS formed the Quantum Transformation Industry Consortium, bringing together more than 80 companies and related organizations across industry, academia, research, government and finance, laying the groundwork to identify domestic quantum firms' technology commercialization needs and demand for overseas expansion.

Turning that overseas expansion demand into tangible results requires local market intelligence, business partners and investment networks. The FCEDA oversees economic development in Fairfax County — a hub for advanced industries in Northern Virginia including quantum technology, AI, defense, aerospace and life sciences — and offers foreign companies specialized services in local information, institutional and corporate matchmaking, and investment attraction networks, making it an ideal partner.

The cooperation channel will move into full operation through a US quantum cluster entry program planned for October. KRISS intends to support four domestic quantum and quantum-transformation companies in entering the US market.

"Entering the global supply chain requires not only strong technology but also organic links to local demand and investment networks," KRISS President Lee Ho-seong said. "We will actively serve as a bridge connecting the domestic quantum industry foundation we have built with the infrastructure in the United States."