S. Korea to sell 5.8 tln won worth of state bonds in December

SEOUL, Nov. 25 (Yonhap) -- South Korea plans to sell 5.8 trillion won (US$4.87 billion) in government bonds next month, the finance ministry said Thursday.

The ministry will issue 500 billion won in Treasurys with a two-year maturity, 800 billion won in Treasury bonds with a maturity of three years and 950 trillion won in five-year government bonds, according to the Ministry of Economy and Finance.

The sales of longer-dated bonds will include 1.9 trillion won in 30-year Treasury notes and 350 billion won in state debts with a maturity of 50 years.

The government initially had planned to sell 8.3 trillion won in bonds in December but made the scale-down decision in a bid to stabilize the bond market and improve fiscal soundness.

To that end, the ministry plans to use excess tax revenue of 2.5 trillion won for the shortfall of the planned sale of Treasurys.

South Korea issued 10.2 trillion won in state bonds in November, according to the ministry.

graceoh@yna.co.kr
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