South Korea’s Ministry of Trade, Industry and Resources (MOTIR) said Thursday it will invest $316. 3 million (464.5 billion won) in the automotive sector this year, expanding support for autonomous driving, electric and hydrogen vehicles as global competition intensifies and export conditions grow more uncertain.

The funding includes $260.6 million (382.7 billion won) for research and development, with $71.1 million (104.4 billion won) allocated to 44 new projects covering AI-based autonomous driving, software-defined vehicles, power electronics and next-generation batteries. The ministry will also invest $55.7 million (81.8 billion won) in infrastructure projects to support parts suppliers and regional industrial ecosystems.