Enter Espoo has focused on strengthening innovation collaboration between Finland and South Korea in the last few years. Now, the work has started to bring concrete results as new opportunities are opening up for startups, research institutions, and companies in both regions.
Enter Espoo has been building a long-term collaboration network in South Korea in recent years. The focus has been on finding the right innovation ecosystems and R&D players to develop synergies and open new opportunities for startups, research institutions, and companies in both regions. The foundation built by Enter Espoo and Korean partners has recently started to pay dividends.
During 2024-25, Enter Espoo signed several Memorandums of Understanding (MoUs) with key Korean innovation partners. This groundwork, for example, made the recent quantum computer collaboration between IQM and Chungbuk National University possible. Long-term cooperation opportunities exist, especially in quantum computing, semiconductors, AI, hydrogen technology and autonomous driving.
Strong R&D focus drives company engagement
Korea and Finland's innovation cultures share a strong focus on R&D. In Korea, universities often act as the driver of company engagement. Because of this, Enter Espoo has proactively initiated and maintained partnerships with Korean universities and research institutes.
Enter Espoo has signed several MoUs with key Korean innovation players that complement the strengths of Espoo and Finland:
- Chungbuk Province Collaboration: MoUs were signed with institutions from Chungbuk Province, including the Chungbuk Innovation Institute of Science and Technology (CBIST), Chungbuk National University, Korea National University of Transportation, and, most recently, with Cheongju University. The agreements support joint initiatives in AI, semiconductors, and smart mobility technologies.
- Quantum computing: A significant agreement was reached with Future Quantum Convergence Forum/Quantum INformation Standard Association. The MoU aims to support the commercialisation of quantum computing by connecting leading Korean companies with Espoo's quantum ecosystem.
- Company delegation: In spring 2025, Enter Espoo travelled to Korea with a quantum and semiconductor company delegation and renewed the MoUs with the aforementioned universities and CBIST to form a stronger bond with the region.
- Busan Technopark is a key innovation player in Korea's second-largest city. Busan brings expertise in areas like power semiconductors and hydrogen storage — sectors that align well with Espoo's strengths. The MoU focuses on building bridges between startups, academia, and industry, enabling meaningful cooperation in R&D and technology commercialisation.
Real-world impact: the first IQM quantum computer is operational in Asia
The Espoo-Korea collaboration is already producing concrete results for Espoo-based companies and partners in Korea. A significant milestone was IQM installing a 5-qubit quantum computer, IQM Spark, at Chungbuk National University in May 2025.
This is IQM's first operational quantum system in the Asia-Pacific region and highlights the speed and depth of the growing innovation relationship. IQM is now also opening an office in Seoul to strengthen its presence in Korea and beyond, with Youngsim Kim appointed Country Manager.
The launch of IQM's quantum machine happened during Enter Espoo's quantum delegation trip to Korea in April 2025. Espoo's quantum and semiconductor community was also comprehensively represented on the trip, with Arctic Instruments, Semiqon, QMill, Algoritmic, and Bluefors joining IQM to open the Korean market further.
"We're extremely happy about the milestone for IQM, and looking forward to bringing more great news from Korea for companies in Espoo. Also, it was great to see so many A-listers from our quantum and semiconductor community joining us in Korea. It speaks volumes about the companies' determination to enter the Korean market. The group truly strengthened our excellent collaboration with Korean ecosystems," says Ossi Ritvos, Enter Espoo's Senior Business Advisor responsible for the Korean market.
We've already seen significant results in the Finnish-Korean collaboration. However, this is just the beginning of what promises to be a lasting, lucrative collaboration possibility offering great untapped potential for new investments, joint R&D projects, cross-border startup growth, and more.
As Enter Espoo continues to develop the Korean-Finnish relationships further, companies can contact Ossi Ritvos to know more about how to get involved.
Contact Ossi Ritvos for more info about opportunities in Korea
