S. Korea to sell 5.5 tln won in Treasury bills in March

South Korea plans to sell 5.5 trillion won (US$4.99 billion) worth of Treasury bills in four separate auctions in March, the finance ministry said Friday.

"The extra funds generated will be used to cover temporary shortfalls in the money supply and make it possible to push forward various state- supported projects in the first half," the ministry said. The money generated can further help stabilize the management of state-controlled funds.

The bills are usually sold to banks, brokerages and other financial institution that buy the government's monetary stabilization bonds and manage state funds.

The ministry said the outstanding amount of Treasury bills should stand at 10 trillion won at the end of the month. (Yonhap)