[THE INVESTOR] South Korea on Thursday said it will issue 2 trillion won (US$1.8 billion) worth of Treasury bills this month to help operate state funds with stability.

The Finance Ministry announced that it will auction 1 trillion won worth of bills with a maturity of 63 days on Sept. 21, followed by the sale of the rest a week later.

The government has regularly issued Treasury bills for short-term borrowing to facilitate budget spending and cover temporary financial shortfalls.

The planned sale is expected to push up the outstanding amount of Treasury bills to 3 trillion won as of end-September, according to the ministry.

(theinvestor@heraldcorp.com)