The Ministry of Trade, Industry, and Resources will inject 464-point-five billion won, or around 317 million U.S. dollars, this year into research and development and infrastructure projects in the automotive industry.

The ministry said it plans to issue a public notice Friday to recruit businesses to participate in the automotive sector's infrastructure projects, with artificial intelligence(AI) and autonomous driving emerging as key engines for future growth.

Of the 382-point-seven-billion-won to be invested in R&D for autonomous driving and key electrical and hydrogen-powered vehicle technologies, 104-point-four billion won will be directed toward 44 new projects.

Forty-nine-point-five billion won will go toward 14 projects in autonomous driving as part of efforts for the early commercialization of AI-based vehicles led by a joint government-civilian cooperative body that launched last year.

Fifty-four-point-eight billion won has been earmarked for 30 initiatives related to the development of key technologies applied to EVs and hydrogen-powered vehicles.