South Korea's trade ministry says it will allocate more than one trillion Korean won, or 890 million U.S. dollars for next year, to support the country's sluggish exports.
It's the first time the budget has surpassed the one trillion won mark as part of efforts to diversify overseas markets and secure a stable global supply chain.
The ministry also plans to provide an additional three billion dollars to the trade insurance fund next year to support exporting companies.
South Korea's export growth fell in August for the ninth consecutive month on slowing global trade, the prolonged U.S.-China trade war and Japan's export restrictions on Korea.