South Korea plans to issue a maximum of 3.61 trillion won (US$3.23 billion) worth of lotteries next year to meet growing demand, the finance ministry said Monday.

According to the ministry in charge of lottery polices, the issuance ceiling is up 3.6 percent from 3.49 trillion won set for this year. The ministry expects that the actual sales will amount to 3.31 trillion won next year.

The ministry plans to issue 3.04 trillion won worth of online lotteries, including the most popular lotto. The ceilings for printed and electronic lotteries stood at 487.6 billion won and 83.1 billion won, respectively.

Lottery sales have been on the rise in recent years. The government sold lotteries worth 3.08 trillion won and 3.19 trillion won in 2011 and 2012, respectively.

Meanwhile, the gambling control commission under the Prime Minister's Office will announce its 2014 lottery issuance ceiling in March next year, but the figure is only a recommendation and the government is not obliged to follow it. (Yonhap News)