Homomorphic encryption company Cryptolab (CEO Jeonghee Cheon) announced on the 21st that it was selected as the final algorithm in the Korean Quantum-Resistant Cryptography Contest (hereinafter referred to as KpqC Contest) hosted by the Quantum-Resistant Cryptography Research Group.
Cryptolab is a homomorphic encryption-based security company founded in 2017 by Professor Jeong-hee Cheon of the Department of Mathematical Sciences at Seoul National University, and is spurring the lead in the domestic quantum-resistant encryption market. With the rapid rise of quantum computer technology threatening the security of existing encryption systems, Cryptolab has been recognized for its unique quantum-resistant encryption technology based on the 'lattice problem', which aims to build a secure encryption system even in the quantum computer era.
In this KpqC contest, Cryptolab was finally selected by proposing the SMAUG-T algorithm submitted in collaboration with the Defense Counterintelligence Command in the public key cryptography field and the HAETAE algorithm developed independently in the electronic signature field. In particular, the algorithm developed through collaboration between Professor Jeong-hee Cheon of Seoul National University and Professor Damien Stelle, the chief scientist of Cryptolab, received high praise for this selection. It is expected that they will establish themselves as the foundation for leading the standardization of quantum-resistant cryptography technology in Korea.
Cryptolab plans to utilize this algorithm to lead the domestic security market and lead the transition to quantum-resistant cryptography, and based on this, to enter the global market. To this end, Cryptolab is operating the 'PQC Alliance Program' to accelerate the introduction of quantum-resistant cryptography in Korea. This program provides companies with technical support for the introduction of quantum-resistant cryptography and a collaborative platform that can create new business opportunities. In addition, Cryptolab plans to provide technical support and security certification for the commercialization of quantum-resistant cryptography through this, and to secure major certifications such as KCMVP, CMVP, and FIPS to support companies' entry into domestic and international markets.
Cryptolab CEO Jeonghee Cheon said, “The fact that our algorithm was selected as the finalist in this KpqC contest is a recognition of Cryptolab’s technological prowess,” and expressed his ambition to “lead technological innovation in the global quantum-resistant cryptography market beyond Korea and contribute to building a safe and secure environment.”
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