The government will offer support to expand exports and investment in light of a ballooning trade deficit.

The trade ministry announced related measures after Friday's session of an emergency ministerial meeting on export and investment strategy.

With a slowdown forecast in the semiconductor sector, the nation's staple export industry, in the first half of this year, the ministry plans to inject two-thirds of the year's export support budget through June, with a record 360 trillion won, or nearly 300 billion U.S. dollars, earmarked for trade financing.

While major domestic agencies projected negative growth in facility investment this year, the ministry will seek to offer 81 trillion won in policy lending for investment in manufacturing facilities and research and development.

Outbound shipments have declined on-year for the fourth consecutive month, posting a shortfall for the eleventh month, peaking at 12-point-69 billion-dollar in the red, the highest since 1956.

The ministry forecast an increase in exports in the automobile, battery, shipbuilding and display industries this year, while ten major manufacturing sectors are planning investment of around 100 trillion won, the same level as last year.