SDT, a South Korean quantum technology company, plans to launch an initial public offering (IPO) next year, marking the first attempt by a domestic quantum startup in Korea. SDT is focused on developing quantum cryptography devices such as Quantum Key Distribution (QKD) and Quantum Random Number Generator (QRNG), as well as ultra-precise quantum sensor solutions.

SK Telecom recently announced that a consortium it is part of has won a contract to develop a national-level quantum cryptographic communication system for South Korea. The project aims to enhance the security of future wireless and satellite communications. This five-year national project is to develop a satellite-based long-range wireless Quantum Key Distribution (QKD) system that will support secure communication up to 30 kilometers and can be mounted on satellites as well as on the ground.

According to a recent forecast of the quantum key distribution (QKD) market released by IQT Research, a quantum technology industry-analysis firm, the global QKD market is projected to reach approximately $269 million in 2024, grow to $2.3 billion by 2029, and rise to $9.1 Billion by 2033.