The industry ministry announced on Tuesday that it plans to invest around one-point-18 trillion won this year to develop parts and materials for advanced technology industries such as semiconductors, displays and rechargeable batteries. 

The amount, about 800 million U.S. dollars, marks a three-point-two percent increase from last year’s figure. 

Under the plan, 136-point-one billion won will be invested in the development of parts and materials for the semiconductor industry, while 101-point-nine billion won will go to the display industry.

The ministry will also inject 100-point-nine billion won into the rechargeable battery industry and 102-point-eight billion won into the biopharmaceutical industry.

The combined figure for the development of parts and materials for the four industries amounts to 441-point-seven billion won. 

Another 736-point-six billion won has been allocated to develop parts and materials for the machinery, metal, automotive, chemical and aerospace industries.