Science Minister Lee Jong-ho speaks at the Government Complex in Seoul, Jan. 15. Yonhap

The science ministry said Monday it will funnel 5 trillion won ($3.7 billion) into the development of national strategic technologies this year to nurture growth engines for the future economy.

The budget marked a 6.4 percent increase from the previous year's allocation of 4.7 trillion won, according to the Ministry of Science and ICT.

In detail, the ministry plans to inject 636.2 billion won into the semiconductor industry, 777.2 billion won into artificial intelligence technology, 977.2 billion won into advanced biology and 836.2 billion won into the space industry.

It set aside 190.4 billion won for cybersecurity, 125.2 billion won for quantum technology and 136.4 billion won for rechargeable battery technology. (Yonhap)