South Korea plans to seek privately financed infrastructure projects worth over 30 trillion won in efforts to spur an economic recovery amid the COVID-19 pandemic. 

Finance Minister Hong Nam-ki unveiled the plan on Thursday in a meeting with economy-related ministers. 

Hong said that aside from a similar ten trillion won project that has already been announced, the government will seek additional infrastructure projects worth seven-point-six trillion won.

The new projects include four-and-a-half trillion won on expressways, two-point-three trillion won for sewage systems and 800 billion won for railways.

Hong said that the government will also seek privately funded projects worth 12-point-seven trillion won in new sectors such as hydrogen fueling stations, LED lights and the digitization of schools.

The minister said to attract private funds, the government will ease tax rules and regulations. Hong added that by 2025, the government will also build one thousand plants for fifth-generation telecommunications and artificial intelligence.