IonQ and Busan Metropolitan City Sign Memorandum of Understanding to Drive Quantum Transformation in Korea

January 23, 2025 at 07:05 AM EST

The partnership intends to advance quantum science and technology in South Korea

IonQ plans to provide quantum computing cloud services, support joint quantum initiatives and contribute to workforce development initiatives in Korea

IonQ, Inc. (NYSE: IONQ), a leader in the quantum computing and networking industries, has signed a Memorandum of Understanding (MOU) with the Busan Metropolitan Government in South Korea - the second largest city in South Korea known as a key technology and economic hub for the southeast region of the country. The agreement highlights a commitment to mutual cooperation in nurturing talent, and advancing quantum technology.

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IonQ President & CEO, Peter Chapman and Mayor of Busan Metropolitan City, Park Heong-joon, sign MOU to advance quantum science and technology (Photo: Business Wire)

Under the terms of the MOU, IonQ plans to provide quantum computing cloud services, support the planning and execution of joint quantum initiatives, and contribute to the workforce and economic development of South Korea. In turn, the Busan Metropolitan Government will help create an environment conducive to the growth of the quantum technology sector.

“We are excited to collaborate with IonQ to enhance Busan’s status as a leading technology hub and establish it as a global destination for advancements in quantum computing,” said Park Heong-joon, Mayor of Busan Metropolitan City. “Through this partnership, we aim to unlock new opportunities in sectors like logistics and finance, further cementing Busan’s role at the forefront of technological innovation.”

“This partnership reflects our shared vision of driving innovation and building a robust ecosystem for quantum technologies around the world,” said Peter Chapman, President and CEO of IonQ. “We are excited to collaborate with Mayor Heong-joon and the Busan Metropolitan City to not only advance quantum computing but also continue to lay the foundation for economic and scientific opportunities in Korea.”

The MOU underscores both parties’ strategic alignment and highlights IonQ's commitment to accelerating the expansion of quantum in South Korea. IonQ has a history of strong partnerships in the region including work with Hyundai Motors, Sungkyunkwan University, Seoul National University, and the Quantum Information Research Support Center.

For more information about IonQ’s quantum computing solutions, please visit www.ionq.com.

About IonQ

IonQ, Inc. is a leader in the quantum computing and networking industry, delivering high-performance systems aimed at solving the world’s largest and most complex commercial and research use cases. IonQ’s current generation quantum computers, IonQ Forte and IonQ Forte Enterprise, are the latest in a line of cutting-edge systems, boasting 36 algorithmic qubits. The company’s innovative technology and rapid growth were recognized in Newsweek’s 2025 Excellence Index 1000, Forbes’ 2025 Most Successful Mid-Cap Companies list, and Built In’s 2025 100 Best Midsize Places to Work in Washington DC and Seattle, respectively. Available through all major cloud providers, IonQ is making quantum computing more accessible and impactful than ever before. Learn more at IonQ.com.

IonQ Forward-Looking Statements

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