The Need for Quantum Cryptography Communication Grows with Advances in Quantum Computing
Expanding into Autonomous Vehicle and Port Surveillance System Markets
Wooriro announced on the 25th that it plans to expand its position as a leading company in the rapidly growing global quantum cryptography communication market, leveraging its core technological capabilities.
According to Fortune Business Insights, a global market research firm, the global quantum cryptography communication market is expected to grow at an average annual rate of 28.8%, from approximately $213.8 million in 2024 to $1.6175 billion in 2032. The domestic quantum communication market is also projected to grow at an average annual rate of 26%, from about KRW 1.9 trillion in 2024 to around KRW 23 trillion in 2031.
As quantum computing advances, the security of existing encryption systems is increasingly threatened, which in turn heightens the need for quantum cryptography communication. Quantum cryptography communication is drawing attention as a next-generation security technology that uses the properties of quantum mechanics to generate encryption keys that are fundamentally immune to eavesdropping.
The company supplies single-photon detectors, as well as core components for quantum cryptography communication and quantum gas detection LiDAR, to companies in 21 countries worldwide, including Switzerland's IDQ, Toshiba Europe, and the UK's QLM. Through a close partnership with IDQ, the world's leading quantum cryptography communication company, Wooriro is fully responsible for supplying the key components for quantum cryptography communication.
Wooriro is participating in the quantum technology consortium 'X Quantum,' led by SKT, and is continuously pursuing joint development of quantum technologies and business cooperation with major domestic and international companies such as IDQ.
Wooriro is also working to diversify its business by developing SSPM technology applicable to LiDAR systems, a core technology for autonomous vehicles, and port surveillance systems. Wooriro's SSPM technology can detect low-power laser signals at distances of over 300 meters. This innovative technology uses eye-safe wavelengths above 1400nm to ensure human safety.
Wooriro recently strengthened its strategic partnership by investing KRW 2 billion in EYL, a company specializing in quantum random number generators (QRNG). EYL is internationally recognized for its technological capabilities through the development of converged security solutions based on quantum entropy chip technology. The company has demonstrated its high level of technology and reliability by achieving certifications such as the National Intelligence Service-certified cryptographic module. Through this collaboration, Wooriro expects to create technological synergy that will enhance the security of quantum cryptography communication systems.
Park Saecheol, CEO of Wooriro, stated, "As quantum computers continue to advance, the importance of quantum cryptography communication will only increase. We will continue to drive technological innovation to obtain national certifications and reduce costs, leading the global quantum security market."
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