Korea will sell 5 trillion won ($4.46 billion) worth of Treasury bills until March to fill possible shortfalls in the government's operational funds, the finance ministry said Monday.
Treasury bills are intended to raise money for the government so it can cope with short-term financial shortfalls. They are generally sold with a maturity of less than one year.
The debt issuance will take place from Feb. 23 to March 29 in six different sessions, the ministry said. The move comes about one month earlier than last year.
The government is planning to front-load more than 60 percent of this year's budget during the first half, aiming to help boost the country's economic growth.
The ministry said that it will determine monthly issuance plans for Treasury bills later by taking into account financial market conditions.
Korea resumed selling the short-term debt for the first time in five years in 2011 when it issued a total of 11.7 trillion won worth of Treasury bills, according to the ministry. (YOnhap)