[THE INVESTOR] South Korea plans to sell 1 trillion won (US$900 million) worth of treasury bills this month to help stabilize the money market and cover government expenses, the finance ministry said on Aug.5

The bills will have a maturity of 63 days and be sold in two separate auctions throughout the month.

Treasury bills are designed to raise money to cover short-term financial shortfalls, and are therefore generally sold with a maturity of less than a year.

Including these sales, the outstanding amount of treasury bills is expected to reach 2 trillion won at the end of August, the ministry said.

(theinvestor@heraldcorp.com)