The nation’s top 10 industries including semiconductors and automobiles plan to invest 119 trillion won in their companies this year, amid growing economic uncertainties stemming from the U.S. tariff war. 

That’s up seven percent from last year and is around 82 billion U.S. dollars. 

The trade ministry unveiled the total following a combined survey of the relevant industries during an industry investment strategy meeting chaired by trade minister Ahn Duk-geun. 

The meeting saw the attendance of leading companies of the nation’s top ten manufacturing sectors, including semiconductors, automobiles, display, secondary battery, petrochemicals and oil, steel, bio, shipbuilding, machinery and robots and textiles. 

Ahn said amid the global tariff war, strategic overseas investment is necessary but domestic investment, which has taken into account creation of jobs and uncertainties surrounding supply chains, is crucial. 

He then vowed all-out efforts to support domestic firms in their efforts to continue domestic investment.