South Korea plans to sell a total of 11 trillion won ($10.15 billion) worth of Treasury bills in February and March of this year, the finance ministry said Tuesday.

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.

The ministry said that it will sell 5 trillion won worth of Treasury bills in February with a maturity of 63 days. It also plans to sell 6 trillion won worth of such bills in March with the same maturity.

The issuance will be carried out in eight separate auctions over the two-month period, according to the ministry. (Yonhap News)