Busan Launches Quantum Computing Initiative, Plans to Attract Major Investments

Busan City is making a bold move towards the future of technology by launching its "Busan's Quantum Initiative " today. The city aims to create a state-of-the-art business and research complex, with a focus on quantum computing, on the site of BEXCO's facilities in Haeundae. The complex will serve as a hub for research, education, software development, and integration of related companies and startups, as well as provide corporate work and convenience facilities.

Mayor Park Hyung-joon has been a strong advocate of this project since Jay Gambetta, vice president of IBM's quantum computer division in the United States, visited Busan in July last year. At the time, Mayor Park vowed to make sure that Busan's plan to create a quantum computing ecosystem would proceed with greater certainty and speed.

In line with this plan, the city signed a business agreement with Heinz, a global real estate investment developer, IBM, a leader in the field of quantum computing, and Korea Quantum Computing Corporation (KQC), a company specializing in the commercialization of quantum computing. The partnership has already opened the IBM Quantum Computing Hub Center at Dongseo University's Centum Campus, which connects to IBM's quantum computers in New York City via the cloud.

Quantum computers are known for their ultra-fast computing capabilities and have garnered the attention of global information and communication technology (ICT) companies, including IBM and Google, as they compete for market dominance. This has been recognized by the Nobel Committee of the Royal Swedish Academy of Sciences, who selected three quantum physicists as co-recipients of the 2022 Nobel Prize in Physics, marking the arrival of the "quantum era."

Mayor Park is confident that Busan's quantum initiative will soon upgrade human civilization beyond the transition to the digital era. The city aims to attract large-scale capital worth KRW 1.3 trillion and make the long-unused common property site a new growth engine of the Busan economy centered on new information and communication technology (ICT) industries by promoting the move of global companies.

Busan City is making a strong effort to bring its quantum computing ecosystem to fruition and become a leader in this field. The city's grand plan to create a global quantum computing complex is expected to take off in 2024, and its completion is scheduled for 2027. With this move, Busan is poised to become a hub for innovation and a catalyst for economic growth.