South Korea planned to push for the fostering of technology convergence between industries as part of efforts to advance key industries to a higher level and subsequently create high-quality jobs, the commerce ministry said Monday.

Four new convergence industries, including 'smart' medical devices, or the convergence of technology between medical equipment and information technology (IT) sectors, will be pushed for under the new administration of President Park Geun-hye, according to the Ministry of Trade, Industry and Energy (MOTIE).

The commerce ministry will also help the nation's leading industries such as tech, auto and shipbuilding sectors blend their technologies and develop newly advanced products such as smart cars, green cars and green ships.

"Convergence between industries has been pushed for by our ministry continuously," Commerce Minister Yoon Sang-jick told a press briefing on Sunday. "We will seek to find promising convergence industries after consulting with the future creation and science ministry."

The ministry also planned to expand its financial support to small businesses for research and development (R&D) to make them become global companies with technology competitiveness. The support will more than triple to 170 billion won (150 million U.S. dollars) in 2017 from 54 billion won in 2012.

The Ministry of Knowledge Economy was renamed as the MOTIE after receiving the function of trade negotiation from the Ministry of Foreign Affairs caused by the passage of the government reorganization bill through the National Assembly.