SEOUL, October 29 (AJP) - The Seoul Metropolitan Government said on Wednesday that it had secured a major investment from Pascal, a leading French quantum computing company.
Under a memorandum of understanding signed this week, Pascal plans to invest $52.8 million to establish a quantum computing research and development center in Seoul, a project expected to create 51 jobs. The two sides will also collaborate on talent development and support programs for startups and companies engaged in quantum technologies.
The signing ceremony was attended by Seoul Mayor Oh Se-hoon, Pascal’s co-founder and Chief Strategic Alliance Officer Georges Olivier Reymond, French Ambassador to South Korea Philippe Bertoux, and Roberto Mauro, head of Pascal’s Korean operations.
Founded in 2019 by Nobel laureate Alain Aspect and four colleagues, Pascal specializes in quantum computers based on neutral atom technology. Headquartered near Paris, the company employs about 300 people across eight countries. It was the first to commercialize a 200-qubit quantum computer and successfully demonstrated a 1,000-qubit system in 2024.
The company is also working on error-tolerant quantum computing and collaborates with major global players such as IBM, Nvidia, Microsoft, Google, and LG Electronics.
Pascal’s investment adds momentum to Seoul’s growing quantum ecosystem. Earlier this year, the city attracted U.S. cloud data firm Snowflake and Swiss quantum security semiconductor company Silsc.
City officials say the goal is to make Seoul a nexus for quantum computing, hosting training programs, research initiatives, and a dedicated technology support center.
“Seoul is proactively building a quantum industry ecosystem to lead future technological change,” Mayor Oh said in a statement. “This agreement reaffirms Seoul’s competitiveness and investment appeal, and we will continue to provide administrative and financial support.”
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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