SEOUL, May 28 (Yonhap) -- South Korea plans to sell 4 trillion won (US$3.6 billion) worth of Treasury bills next month to repay maturing debt, the finance ministry said Friday.
The bills, which have a maturity of 63 days, will be sold in five separate auctions in June, according to the Ministry of Economy and Finance.
Treasury bills are usually floated to raise money to cover short-term financial shortfalls and thus are generally sold with a maturity of less than a year. The debts should be repaid within the year of issuance.
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