Korea to begin selling 30-yr bonds in Sept.

Korea will start selling its first 30-year state bonds in September in a bid to nurture a long-term debt market, the finance ministry said Wednesday.

The ministry said it will sell 400 billion won ($347.5 million) worth of such long-term bonds every month starting from September until the end of this year.

The move is to diversify the "maturity portfolio" of state bonds. It is also intended to nurture a long-term debt market where the government can raise stable funds needed to anticipate costs stemming from the country's aging population and possible unification with the North, the ministry said. (Yonhap)