The government will provide 30 trillion won, or about 27 billion U.S. dollars, over the next three years to foster innovative, tech-based start-ups.

Measures aimed at creating an ecosystem for such start-ups were confirmed on Thursday during an economy-related ministerial meeting presided over by Finance Minister Kim Dong-yeon.

Under the plan, the government will help employees at large-sized firms start their own companies without having to quit their day jobs.

The measures also include the revival of tax exemption benefits for stock option holders, and other tax breaks for start-ups and their investors.

Minister Kim said the government is seeking to spur a second wave of entrepreneurial ventures led by innovators in the private sector.