[Exclusive] SKT Starts Quantum Computing Collaboration... Yang Sang-yong Meets IonQ Chairman

Follow-up to February's Technology Cooperation MOU
Integration of Quantum Computing Technology and AI Platform
Roadmap and Project Discussions Expected
IDQ Share Sale Also Expected to Conclude

Yu Young-sang, CEO of SKT (left), and Peter Chapman, Chairman of IonQ (right), will hold a meeting on the 17th.

Peter Chapman, Chairman of the American quantum computing company IonQ, is visiting Korea to hold his first face-to-face meeting with Yoo Young-sang, CEO of SK Telecom. The two companies signed a memorandum of understanding (MOU) for quantum computing technology cooperation last February, and this meeting is part of the follow-up measures. They plan to explore specific directions for collaboration during this meeting.

According to industry sources on the 15th, Chairman Chapman will meet CEO Yoo on the 17th in a location in Seoul, coinciding with his visit to Korea alongside the Maryland state government trade delegation in the United States to mark 'World Quantum Day.'

An SKT official stated, "This is the first meeting between Chairman Chapman and CEO Yoo, where they will introduce their businesses and discuss cooperation plans." SKT has already announced plans to integrate IonQ's quantum computing technology into its artificial intelligence (AI) platform based on the MOU signed with IonQ. Through Chapman's visit to Korea, it is expected that the cooperation details will be further specified, and discussions on technology roadmaps and joint projects will take place.

In particular, there are expectations that SKT and IonQ will finalize the sale of shares in the Swiss quantum cryptography company IDQ (ID Quantique), which is a core part of their strategic cooperation, immediately after this meeting. In February, both parties signed a deal exchanging 100% of the IDQ shares held by SKT and SK Square (50% each) for approximately 3.1% of IonQ shares. SK Square is an affiliate company established as an investment specialist through the spin-off of SKT's telecommunications and investment businesses in 2021, and it is participating in this share exchange along with SKT. The transaction is reported to be worth around 330 billion KRW. Through this deal, IonQ is expected to secure management rights of IDQ and expand its business capabilities by combining quantum computing and quantum cryptography technologies.

SKT has recently been actively adopting quantum computing technology to advance its AI services. Since 2022, it has positioned AI as a core growth engine and views quantum computing technology as a 'game changer' to strengthen its AI competitiveness. CEO Yoo stated, "Quantum technology is an essential element for AI development," and added, "We will continue to pursue investments and cooperation to become a leading company in the AI field."

Chairman Chapman aims to strengthen technological cooperation partnerships in Korea through this visit. Prior to visiting Korea, he also signed an MOU with the Global Quantum AI Technology Research and Development Center (G-QuAT) under the National Institute of Advanced Industrial Science and Technology (AIST) in Japan.

This visit is also said to be partly due to IonQ representing Maryland-based quantum companies. Chairman Chapman is accompanying Maryland Governor Wes Moore on his Asia visit. However, Governor Moore is not expected to attend the meeting with SKT.

IonQ, founded in 2015 by researchers from the University of Maryland, is a quantum computing company leading trapped ion qubit technology. It is well known as the world's first quantum computing specialized company listed on the New York Stock Exchange (NYSE) in 2021, and it has high recognition in Korea thanks to co-founder Professor Jungsang Kim of Duke University. Although Professor Kim has returned to academia, he played a significant role in establishing IonQ as the most familiar quantum computing company to the Korean public. To commemorate World Quantum Day this year, IonQ rang the closing bell at the NYSE on the 14th (local time), showcasing its industry status. Last year, it rang the opening bell on the same day.