ITCEN Global said on Tuesday it signed a strategic memorandum of understanding with Nasdaq-listed quantum technology company BTQ Technologies, or BTQ, to build PQC and quantum-safe security infrastructure.

BTQ is a global quantum technology specialist that researches and develops post-quantum cryptography, hardware-based security and quantum-safe technologies. It has recently accelerated its global business expansion.

Under the agreement, the two companies will jointly develop post-quantum cryptography that can maintain security even in quantum computing environments, next-generation authentication technologies and quantum-safe security infrastructure. They will pursue commercialisation. Initial application areas include financial networks that require large-scale data protection and reliability, digital identity authentication, biometric authentication, blockchain and Web3, public systems0 and enterprise IT infrastructure.

The two companies also plan to gradually expand cooperation, starting with this agreement, to areas where advanced security is essential. These include national critical infrastructure as well as defence and the defence industry, satellite communications and the aerospace industry.

With governments pursuing a shift to quantum security as a national strategy to prepare for the possibility that quantum computers could neutralise existing public-key cryptography systems, the strategy is to secure technology in advance to gain competitiveness in the global market.

An ITCEN Global official said, "This agreement goes beyond a simple exchange of technologies between the two companies and will serve as a chance for the ITCEN Group to leap into a key player in the next-generation security market." The official added, "We will mobilise the technological capabilities of group affiliates already proven in the public and financial sectors to expand our quantum-security territory into high-value new industries such as the defence industry, aerospace and AI data centres."

Young-seok Choi (최영석), BTQ's chief strategy officer, said, "South Korea is one of the key markets where the transition to quantum-safe infrastructure will proceed the fastest." He added, "Working closely with ITCEN Global, we will take the lead in building highly reliable quantum security technologies that can fully protect not only finance and the public sector but also national critical systems."