The government says it will announce policies before the end of the year to assist backbone industries such as automakers and shipbuilders reeling from a slump in the economy.  

Prime Minister Lee Nak-yon revealed the plan during a meeting with the representatives of strong mid-standing firms in Seoul on Monday. 

Noting that the government has earmarked 18 trillion won for next year as industrial budget, up by nearly 15 percent from this year, Lee said the government will particularly expand its help to enhance local manufacturers’ competitiveness. 

He also said the government will more actively and preemptively respond to external factors causing anxiety to mid-ranked manufacturers, and promised to minimize uncertainties by enhancing the predictability of related economic policies and their market acceptance. 

He also promised active state support for them in developing original technologies and launching into new industries, emphasizing more than 20 trillion won has been earmarked for budgets on state research and development projects.