Asian Tech Press (Mar. 25) -- South Korea plans to invest more than 20 trillion won ($16.4 billion) in data, network and artificial intelligence (AI) sectors over the next three years.

Finance Minister Hong Nam-ki said on Friday that the government hopes to support research and development in the three sectors through financial investment.

The development of the three industries will be important in creating synergies with the country's three key sectors including non-memory chips, biohealth and next-generation vehicles, Hong said.