SK Telecom, Nokia and partners form quantum alliance

The members of this new quantum alliance will also launch a consultative body

Korean carrier SK Telecom and six other companies including Finnish vendor Nokia formed an alliance aimed at promoting developments in the quantum ecosystem.

The partners said they will explore joint investment opportunities and launch a consultative body.

In addition to SK Telecom and Nokia, the alliance includes quantum VPN provider Xgate, hardware-based cryptographic module specialist KCS, quantum communication solutions firm IDQ Korea, SOS Lab and Wooriro as its members.

The founding partners noted that a joint brand is set to launch in the first half of this year to confirm an official name for the group.

The partners also said they plan to participate in domestic and overseas exhibitions to promote the competitiveness of the “Quantum Alliance” products and services.

“In terms of discovering business opportunities, the ‘Quantum Alliance’ decided to actively pioneer new markets by jointly winning public projects and national projects and jointly participating in B2B projects, as well as packaged quantum technologies and solutions owned by member companies,” the body said.

“’Quantum Alliance’ plans to target the domestic and overseas quantum market, which is expected to grow at an average annual rate of 29.2%, by leveraging member companies’ technologies and joint solutions,” it added.

Ha Min-yong, SK Telecom global solutions office manager, said: “The establishment of this Quantum Alliance will lay the foundation for strengthening the competitiveness of the domestic quantum industry. We will create a new business, and based on this, we will push for entry into the global market.”