Norma: Asia’s Top Quantum-Safe Solution Company on Track to Pioneer Quantum Computing
South Korean quantum security company Norma is poised to be one of the forerunners in the space with the Q Care Connect Series, which provides cutting-edge post-quantum cryptography (PQC) technology (also known as quantum encryption) to future-proof digital security.
Quantum computing is a breakthrough in computing speed. In 2019, Google’s quantum computer was reported to be 158 million times faster than the world’s fastest supercomputer. Norma was the only Korean cyber security company to be invited to deliver a presentation on breaking RSA cryptography by using quantum computing algorithms in April at the ‘Asia Quantum.Tech Seminar in Singapore. Norma’s director, Shin Dong-geol demonstrated the vulnerabilities of current encryption protocols by putting RSA cryptography – the most widely used public key encryption algorithm used in financial joint certificates, in a quantum computing environment. The 14-bit RSA encryption was broken in 2 hours.
Founded in 2011 by Jung Hyun-Chul, a Ph.D. in Computer Engineering from Korea University, Norma has raised US $15 million to date. Along with its main research facility in Seoul, the company has expanded its operations globally to include 5 branches in South Korea, the US, Europe, Hong Kong, and China. Norma is currently the leading company in South Korea, showing the most significant progress in the field of quantum security. The company has built its talent pool and is actively recruiting master’s and doctoral-level professionals in the field of quantum computing.
With projections for the quantum computing market to grow from US $712.2 million in 2022 to US $4,758.0 million by 2029 at a CAGR of 31.2%, countries globally have invested billions in research to prepare for the disruptive possibilities of quantum computing. South Korea has allocated over US $51 million to develop core quantum computing technologies and power their next generation of ICT capabilities.
Norma’s Q Care Connect series is designed to be compatible and easily integrated with existing network infrastructures, Q Care Connect’s post-quantum cryptography (PQC) technology futureproofs the safeguards IoT devices in smart homes and work environments. This technology suite is currently being used by HDC Labs, one of South Korea’s top smart building solution companies.
“With over a decade of experience in quantum-safe and quantum computing technology, Norma has established itself as one of the top five organizations globally, along with industry giants like SK Telecom and NEC Corporation, leading the way to commercialization of quantum-safe products in the near future. HDC Labs is proud to partner with Norma to set new industry standards for security.” Says Kim Kyu-Heun, General Manager of HDC Lab’s Business Development Team.
“As quantum computing capabilities become accessible in the near future, our information security has to keep up. We are excited to be at the forefront of this space, working with many different industry partners. We are committed to always being a step ahead of any potential threats.” Says Jung Hyun-Chul.
Moving forward, Norma is preparing for their IPO towards the latter part of 2023.
