Rival political parties in South Korea have launched a joint platform to discuss research and development and state assistance regarding quantum information communication technologies. 

According to Representatives Kim Sung-tae of the major opposition Liberty Korea Party and Byun Jae-ill of the ruling Democratic Party, the parliamentary forum on quantum information communication technologies will seek to lead legislation efforts to foster the related industry in the country.

Science and ICT Minister You Young-min welcomed the establishment of the entity during its launch ceremony last Friday, promising active state support to cultivate the industry. 

The quantum information communication technologies use quantum computing and helps process information millions of times faster than existing super computers. They are considered to have the potential to solve various challenging issues of the Fourth Industrial Revolution and bring lucrative outcomes to service operators. 

It is forecast that around 400 trillion won worth related markets will be created worldwide by 2030, but South Korea is assessed to lag behind the U.S. and other countries leading the field.