LG Electronics Signs Research Agreement with Dutch QnC for Quantum Computing Technology Development

[Asia Economy Reporter Jeong Hyunjin] LG Electronics announced on the 15th that it will intensify the development of quantum computing technology to strengthen its future readiness.

On the same day, LG Electronics signed a research agreement with QnCo, a Dutch quantum computing development company, to develop quantum computing technology for multiphysics simulation. According to the agreement, the two companies will jointly research the technology for the next three years. The research results will be used to solve multiphysics-related problems in the industry.

Multiphysics refers to phenomena or systems where physical phenomena related to electricity, magnetism, heat, fluids, etc., occur simultaneously and complexly, and multiphysics simulation is used to analyze and verify these phenomena and systems. Quantum computing is evaluated as a future core technology that can quickly process problems in areas that were difficult to solve with conventional computers and can be applied in various fields such as automotive, chemistry, medical, logistics, and finance.

LG Electronics stated that it expects to enhance its future technology competitiveness by utilizing quantum computing, which performs complex calculations difficult for conventional computers. It also forecasted that quantum computing will be used in various areas such as big data, connected cars, digital transformation, Internet of Things (IoT), and robotics for future businesses.

Vincent Elfving, CTO of QnCo, said, "By utilizing our independently developed quantum algorithms, we will introduce new technology that effectively solves nonlinear problems whose results are difficult to predict, together with LG Electronics." Park Il-pyeong, CTO of LG Electronics, said, "Based on an open innovation strategy, we will strengthen technological competitiveness by collaborating with promising companies like QnCo and promote high-level applied research to contribute to creating a better life for customers."