Korean businesses will invest up to 150 billion U.S. dollars over the next five years in new industries like driverless cars, renewable energy and the Internet of Things.
Seoul's ministry of trade, industry and energy announced its new industry development plan on Friday with businesses in the private sector.
Dubbed the "Industry Innovation 2020 Platform," the ministry said it expects the investment to create around 200-thousand jobs by 2022.
It will support the plan through easing government regulations, and nurturing talent.