By Diplomacy Journal Kayla Lee

The Seoul Metropolitan Government (SMG) is accelerating efforts to attract global leaders in next-generation industries, such as AI, fintech, semiconductors, and quantum computing, as Seoul emerges as a testbed and investment hub for global strategic industries.

After the American AI and data cloud company Snowflake and Swiss quantum security semiconductor developer SEALSQ invested in Seoul earlier this year, French quantum computing leader Pasqal decided to join, marking the city’s third consecutive success in attracting global strategic industry leaders across AI, semiconductors, and quantum computing.

The city signed an MOU with Pasqal at Seoul City Hall Conference Room at 2 PM on Wed, Oct. 29 to establish a quantum computing R&D center, involving an investment of $52.84 million and the creation of 51 new jobs.

With this agreement, Seoul will work with Pasqal to develop the city into a key hub for the quantum computing industry. Both parties plan to cooperate on building an R&D network that connects industry, academia, research, and government, nurturing core talent in quantum technologies, and providing technical support to companies developing materials, parts, and equipment related to quantum computing.

The city is taking proactive steps to foster the quantum industry with projects that include the construction of the Quantum Technology Convergence Support Center within the Hongneung R&D Special Zone scheduled for completion in 2027, and the creation of the Seoul Quantum Hub (tentative name) set to open in 2030—both are aimed at expanding the city’s quantum industry ecosystem through the convergence of AI and quantum computing technologies.

Since the second half of last year, the city has held continuous meetings with Pasqal’s headquarters and Korean branch to actively promote Seoul’s strengths in research infrastructure, business environment, and talent. Despite challenging global economic conditions, the city conducted site tours of the Korean branch and hosted investment briefings, emphasizing Seoul’s competitiveness. After close consultation with the Ministry of Trade, Industry and Energy, Pasqal confirmed its plan to establish a R&D center in Seoul.

Seoul will continue to work with the Ministry of Trade, Industry and Energy to provide foreign investment incentives for Pasqal’s investment and employment in accordance with the Foreign Investment Promotion Act and related regulations.