Min Yong Ha, Chief Development Officer of SKT ; Young Sang Ryu, President and CEO of SKT ; Xavier Bettel, Prime minister and minister for Communications and Media ; Franz Fayot, minister of the Economy sign memorandum of understanding on quantum technologiesQuantum computing is ultra-powerful form of computing using quantum mechanics – a branch of physics dealing with the atomic and subatomic scale – to solve complex problems much faster than what can be done with classical computing. The field is clearly on the agenda in Luxembourg, with the Ministry of State coordinating Luxembourg’s Quantum Communications Infrastructure project (LuxQCI) with the objective of creating secure communications that will shield against cyber threats. In 2022, the University of Luxembourg also launched its first testbed for quantum communication, aimed at enabling advanced and applied research in quantum key distribution and quantum internet.

This memorandum of understanding is a significant step in our endeavour to develop better technologies, infrastructures and services in the quantum field.

On 4 October 2023, Prime Minister and Minister for Communications and Media, Xavier Bettel, and Minister of the Economy, Franz Fayot, had a meeting with Young Sang Ryu, President and CEO of SK Telecom (SKT) to discuss cooperation in this field. SKT is currently aiming to build the first nation-wide governmental quantum-safe network in South Korea, and in the context of the memorandum of understanding signed with Luxembourg, the company considers establishing an entity here. The objective would be to develop mutually beneficial opportunities for the Luxembourg quantum ecosystem.

Developing the quantum technologies field

“Thanks to the complementarity of SKT’s leadership in quantum technologies and Luxembourg’s implementation of the LuxQCI initiative and its leadership in the fields of satellites and innovative data centres, this memorandum of understanding is a significant step in our endeavour to develop better technologies, infrastructures and services in the quantum field”, stated Xavier Bettel.

Minister of the Economy, Franz Fayot, underlined: “South Korea and Luxembourg are strong economic partners and have much in common as pioneers of innovation and leaders in the high-tech and digital arenas. The signature of this memorandum of understanding perfectly underlines the close ties between our countries that exist for a long time, as well as the fruitful collaborations between our companies.”

Photo: ©Ministère d'État


Read more

Entering the European market with ease


In recent years, Luxembourg has emerged as a dynamic hub for innovation, boasting a robust ecosystem that encompasses a multitude of incubators, accelerators, specialised agencies, investors, and innovation hubs. This thriving ecosystem has played a pivotal role in nurturing and propelling numerous successful enterprises across diverse industries onto the global stage. Top executives leading some of Luxembourg’s key structures explain what the ecosystem offers and why this might just be the smartest and most cost-effective way for a soft-landing and to gain a foothold in foreign markets.
Read more

Pioneering “gamified neuroscience” for brain disorders


Luxembourg-based company Myelin-H is developing a revolutionary software technology for the remote monitoring and management of neurological disorders. The company’s CEO, Zied Tayeb, sheds light on the company’s mission to make a difference and how a personal story sparked the conception of his startup.
Read more

Accessing the European healthtech market


Healthtech solutions are subject to rather complex regulatory requirements guaranteeing health standards and protection in the EU. Luxembourg’s national innovation agency Luxinnovation manages a range of initiatives aimed at supporting healthtech companies from strategy development to European market access.
Read more

On the road to personalised medicine


In 2008, the Luxembourg government launched its Sciences and Health Technologies Action Plan to diversify its economy, nurture health technology innovation and stimulate the shift towards personalised medicine. Fifteen years later, the country is home to internationally renowned biomedical research centres and a growing community of healthtech companies focusing, in particular, on digital health, digital medical devices and in vitro diagnostics.
Read more

Luxembourg’s rise to 2nd place in the IMD talent ranking


In the 2023 IMD World Talent Ranking (WTR), Luxembourg moved up five spots to the second position. Its new ranking was influenced by its “strong performance” in the development of homegrown talents and access to an international talent pool.
Read more

Resources all news