S. Korea to sell 4 tln won in Treasury bills in March

SEJONG, March 4 (Yonhap) -- South Korea plans to sell 4 trillion won (US$3.32 billion) worth of Treasury bills in four separate auctions in March to help cover government expenses, the finance ministry said Friday.

The money will be used to help the government stabilize state-controlled funds and push forward various state-run projects, it said.

The government will sell Treasury bills with a maturity of 63 days in four auctions this month.

The outstanding amount of Treasury bills will stand at 6.9 trillion won at the end of March, up 2.9 trillion won from the previous month, according to the ministry.

Treasury bills raise money for the government to deal with short-term financial shortfalls. They are generally sold with a maturity of less than one year.

brk@yna.co.kr
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