South Korea plans to spend some 116 trillion won, or around 102 billion U.S. dollar, worth of funds from the private and public sectors by next year to boost exports.

The Ministry of Trade, Industry and Energy said it will attract 91 trillion won worth of facilities investment from the private sector and deploy six-point-eight trillion won in joint private-public research and development to nurture products geared toward exports.

The measures were approved at the eighth trade-investment promotion meeting chaired by President Park Geun-hye on Thursday.

The government also plans to provide 16-point-two trillion won in loans to small and medium-sized export companies from the second half of this year through next year.

It will select 100 household products, including kitchenware, stationery and furniture, and regional specialty products by 2017 to help businesses sell their items overseas.

The government hopes these policies will increase the size of the nation’s trade, which remained at 491-point-three billion U.S. dollars in the first half of the year, to more than one trillion dollars by the end of the year.