Cryptolab
1 known investors
Korean cryptography company commercializing CKKS fully homomorphic encryption and post-quantum cryptography software.
Also known as Crypto Lab Inc. Β· CryptoLab Β· ν¬λ¦½ν λ©
Investors Β· 1
Company profile
researched Aug 2026CryptoLab (ν¬λ¦½ν λ©, Crypto Lab Inc.) is a South Korean cryptography software company that develops fully homomorphic encryption (FHE) and post-quantum cryptography (PQC) technology. The company states it developed the fourth-generation homomorphic encryption scheme CKKS, which supports real-number arithmetic, and that it holds the original patents for it. Its stated positioning is "Private AI" β enabling AI and data analysis that avoids privacy exposure, since homomorphic encryption allows computation on data while it remains encrypted, addressing leakage from both external attackers and insiders as well as enabling data collaboration between institutions and companies.
The product line centers on the HEaaN Library, a fully homomorphic encryption software library the company describes as offering leading speed, storage efficiency and accuracy, and HEaaN PQC, a software toolkit intended to protect public key infrastructure environments against security threats posed by quantum computers. In May 2025 the company launched a search solution built on what it describes as 4.5-generation homomorphic encryption. The company is led by Jung Hee Cheon (μ²μ ν¬), a mathematics professor at Seoul National University who founded the company.
Founding story
The company was founded by Jung Hee Cheon, a professor of mathematics at Seoul National University, whose research group developed the CKKS homomorphic encryption scheme; Cheon serves as its chief executive.
Business model
CryptoLab licenses and supplies its homomorphic encryption and post-quantum cryptography software β the HEaaN library, HEaaN PQC toolkit and derived solutions such as encrypted search β to enterprises and institutions, including through multi-year technology supply contracts such as a three-year agreement with genome analysis firm Macrogen.
Traction
Reported engagements include supplying homomorphic encryption to fintech company Toss for securing facial-feature-based payment (September 2025), an MOU with Kakao Enterprise on cloud and security cooperation (September 2025), a three-year technology supply contract with Macrogen (April 2024), joint research with Asan Medical Center on privacy-preserving multi-institution predictive models published in a medical journal (August 2024), a successful homomorphic encryption verification with Shinhan Financial Group (October 2022), and MOUs with LG Uplus and LG Electronics on connected-car and quantum-resistant network security (2022).
Latest developments
During 2025 the company launched a homomorphic-encryption-based search solution using 4.5-generation technology (May), signed an MOU with Kakao Enterprise covering cloud and security cooperation (September), and supplied homomorphic encryption technology to Toss for facial payment security (September). In January 2025 its post-quantum work featured in the KpqC final algorithm selection.
βΈFull profile β market position, technology, go-to-market, geography
Market position
CryptoLab presents itself as a leader in next-generation homomorphic encryption and claims the world's highest-performing homomorphic encryption engine. In December 2022 it was named a sample vendor in a Gartner-style analyst selection alongside Google and Microsoft, according to the company's news page.
The company's stated differentiators are authorship of and original patents on the CKKS scheme supporting real-number computation, an encryption engine it claims leads on speed, storage and accuracy, and a combined portfolio spanning both fully homomorphic encryption and post-quantum cryptography.
Technology
The core technology is the CKKS fourth-generation fully homomorphic encryption scheme, which supports approximate real-number operations on encrypted data; the company says it developed CKKS first and holds the original patents. This is packaged as the HEaaN library, positioned on speed, storage footprint and accuracy, and extended in 2025 to a "4.5-generation" homomorphic encryption search solution. A separate line, HEaaN PQC, provides post-quantum cryptographic tooling for PKI environments; the company's algorithms were involved in the KpqC Korean post-quantum cryptography standardization selection announced in January 2025.
Go-to-market
The company goes to market through direct technology supply contracts, MOUs and joint verification projects with large Korean corporates and institutions, alongside academic and clinical research collaborations, industry standardization work, and international events such as its Unpack 2024 showcase in Salt Lake City, US, and CES 2023 exhibits with partners.
Enterprises and institutions handling sensitive data, including financial services and fintech (Toss, Shinhan Financial Group), telecommunications and connected-car players (LG Uplus, LG Electronics), cloud and platform companies (Kakao Enterprise), healthcare and genomics organizations (Asan Medical Center researchers, Macrogen).
Geography
Headquartered in Seoul, South Korea, at 27-404, 1 Gwanak-ro, Gwanak-gu (Seoul National University area), with outbound activity in the United States including a technology and service showcase in Salt Lake City in October 2024.
Compiled by commissioned research from 7 cited public sources β announcements, filings, and press listed under research sources below.
Timeline Β· 12
launches, deals, and filingsCryptoLab supplied homomorphic-encryption-based protection of facial feature points to Korean fintech company Toss.
CryptoLab signed a memorandum of understanding with Kakao Enterprise to strengthen cooperation in cloud and security.
CryptoLab released a homomorphic-encryption-based search solution described as using 4.5-generation technology, designed to remain safe under data leakage.
Company news reports the KpqC final algorithm selection and CryptoLab's intent to lead the domestic post-quantum cryptography market.
CryptoLab held an event in Salt Lake City, United States, to present its main fully homomorphic encryption technologies and services.
Research with Asan Medical Center on a homomorphic-encryption-based privacy-preserving multi-institution prediction model was published in a medical academic journal.
CryptoLab signed a three-year homomorphic encryption technology supply contract with genome analysis company Macrogen.
LG Uplus exhibited connected car security technology applying CryptoLab technology at CES 2023.
CryptoLab announced it was selected as a "sample vendor" in an analyst listing of top homomorphic encryption providers together with Google and Microsoft.
Shinhan Financial Group and CryptoLab succeeded in verifying homomorphic encryption.
LG Electronics signed a memorandum of understanding with LG Uplus and CryptoLab on connected-car digital security.
LG Uplus planned to fit its telecom network with CryptoLab's quantum-resistant encryption technology.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 7
primary sources listed
- Cryptolabcryptolab.co.kr Β· web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Cryptolab do?
- Korean cryptography company commercializing CKKS fully homomorphic encryption and post-quantum cryptography software.
- Who are Cryptolab's investors?
- Cryptolab's investors include Kiwoom Investment.