South Korea will invest 13-point-five trillion won, or over ten billion U.S. dollars, by 2030 in key industry sectors, including semiconductors, secondary batteries and nuclear power generation.

According to the industry ministry on Monday, the government plans to select 40 research and development projects in eleven major industry fields to achieve innovative technologies and spur economic growth.

It will invest six-point-two trillion won by 2027 and an additional seven-point-three trillion won by 2030.

The eleven sectors are semiconductors, displays, secondary batteries, future mobility, key materials, advanced manufacturing, intelligent robots, aviation and defense, bio, next-gen nuclear power generation and new energy.

In line with the plan, the ministry signed memoranda of understanding with nine companies, including Hyundai Motor, POSCO, Samsung Display and Hanwha Aerospace.