The government will invest nearly 246 billion won in developing nanotechnology as part of its goal to become one of the world’s top three nations in the industry.

The Ministry of Education, Science and Technology announced Wednesday that the National Science and Technology Council had approved the proposal.

According to the plan, the government will increase investment in research and development in the nano industry by one-point-two percent over last year to train experts, support nanotechnology research, and invest in infrastructure including facilities and equipment.

The ministry said it hopes to both acquire more than 30 of the world’s best nano-related technologies by 2015 and lay the foundation to hold over a 20 percent share in the worldwide nano market.