Pasqal invests $52 million in South Korean quantum expansion.

SEOUL, South Korea / PARIS, France - French quantum computing company Pasqal announced on Thursday that it will invest $52 million in South Korea, creating more than 50 jobs.

LG Electronics, Dunamu & Partners, and the Korean government back the investment.

The investment includes support from the Seoul Metropolitan Government and the Korean Ministry of Trade, Industry and Energy under the Foreign Investment Promotion Act, Pasqal said.

The company builds quantum processors using neutral atoms arranged in two-dimensional and three-dimensional arrays.

LG Electronics and Dunamu & Partners are making strategic investments in the initiative, though Pasqal did not disclose the amounts.

Dunamu & Partners is the investment arm of Dunamu, which operates digital asset exchange Upbit in South Korea.

Pasqal said it will deploy its neutral atom Quantum Processing Unit in Korea for research and development of quantum algorithms and applications.

The company described the arrangement as a public-private partnership involving international and Korean entities.

In a statement, Loïc Henriet, Chief Executive of Pasqal, said the partnership with LG Electronics, Dunamu & Partners, and the Seoul Metropolitan Government aims to create an ecosystem that accelerates the adoption of quantum computing in the Asia Pacific region.

Kangjoon Lee, chief executive of Dunamu & Partners, said Pasqal's partnerships and research initiatives in South Korea are expected to contribute to the development of the country's quantum computing sector.

Seoul Mayor Oh Se-hoon said the city would provide administrative and financial support for operations, including research and development, talent development, and network building.

France's ambassador to Korea, Philippe Bertoux, said the agreement reflected cooperation between the two countries in advanced technologies.

Pasqal was founded in 2019. Its founders include Alain Aspect, who received the Nobel Prize in Physics in 2022.

The company stated that it has secured over 140 million euros in financing and operates projects in Europe, North America, the Middle East, and the Asia Pacific.