S. Korea to sell 13.6 tln won worth of govt' bonds in July

SEOUL, June 24 (Yonhap) -- South Korea plans to sell 13.6 trillion won (US$12 billion) in government bonds next month, the finance ministry said Thursday.

The ministry will issue 1.1 trillion won in Treasurys with a two-year maturity, 2.8 trillion won in Treasury bonds with a maturity of three years and 2.5 trillion won in five-year government bonds, according to the Ministry of Economy and Finance.

The sales of longer-dated bonds will include 3.3 trillion won in 30-year Treasury notes and 400 billion won in state debts with a maturity of 50 years.

South Korea issued 18.3 trillion won in state bonds in June.

The country plans to sell government bonds totaling 176.4 trillion won this year as it seeks to finance fiscal spending to cope with the pandemic.

The government is working on this year's second extra budget, estimated at some 30 trillion won, without a debt sale to support vulnerable people hit hard by the COVID-19 pandemic.

sooyeon@yna.co.kr
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