South Korea's industry ministry on Friday hosted a session to discuss strategies for applying quantum computing technologies in industries, including biohealth, chemical and materials.

The event at Yonsei University, attended by government, business and academic officials, came as the government aims to offer tailored support for the initiative, according to the Ministry of Trade, Industry and Energy.

Yonsei University is building a new computing center, set to be completed by 2028, featuring an IBM 127-qubit quantum processor that has already been installed, with a total budget of 17.8 billion won ($12.7 million), including 10 billion won in state funding.

"With the quantum computer, the government will continue supporting the development of the industrial ecosystem, including the adoption of additional equipment and the development of quantum algorithms," the ministry said in a statement.

The ministry also plans to develop business models by exploring opportunities in sectors such as biohealth, chemicals, materials and logistics.

South Korea is the fifth country to acquire IBM's utility-scale quantum computer, following the United States, Canada, Germany and Japan, while Yonsei University is the second university worldwide to deploy such a system. (Yonhap)