SEOUL, April 15 (Yonhap) — LG Electronics Inc. said Thursday it has formed ties with Dutch quantum algorithm developer Qu & Co to conduct joint research on quantum computing technology in a move to boost competitiveness in future technologies.

Under the research agreement, the two companies will develop quantum computing technology for multiphysic simulations over the next three years.

Multiphysics refer to systems that involve simultaneously occurring multiple physical phenomena. Multiphysics simulations are used to analyze and verify such systems.

LG said current computers are limited in analyzing complex systems, and expects the substantially faster quantum computing technology to process them and help resolve industrial problems that account for multiple physical phenomena.

LG said it expects quantum computing technology to be implemented in promising fields, including big data, connected vehicles and robotics, and to improve its competitiveness in future tech businesses.

The logos of LG Electronics Inc. and Dutch quantum computing software developer Qu & Co are shown in this image provided by LG on April 15, 2021. (PHOTO NOT FOR SALE) (Yonhap)