Korea will sell 2 trillion won ($1.89 billion) in Treasury bills this month as part of efforts to secure money to cover possible shortfalls in government operation 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 July debt with a maturity of one month will be issued to refinance 2 trillion won of the total 3 trillion won maturing this month. The ministry plans to pay back the remaining 1 trillion won.