The government plans to invest more than 30 trillion won, or 20‑point‑four billion U.S. dollars, next year in artificial intelligence(AI) and other advanced industries through a new public growth fund.

The announcement came Tuesday at a ministerial meeting on industrial competitiveness, during which attendees discussed an interagency plan to manage the new fund.

The five‑year, 150 trillion won fund to support investment in AI, semiconductors and other advanced sectors, was launched last Thursday.

According to the Financial Services Commission, more than 30 trillion won will be invested next year, including six trillion won in AI, four‑point‑two trillion won in semiconductors and three‑point‑one trillion won in mobility.

Of the total, three trillion won will be deployed as direct investment, seven trillion won via indirect investment and ten trillion won for infrastructure financing and low‑interest loans.