Korea to sell 2tr won in Treasury bills in July

Korea plans to sell 2 trillion won ($1.76 billion) worth of Treasury bills in July to shore up government coffers, the Finance Ministry said Friday. Treasury bills are intended to raise money so the government can cope with short-term financial shortfalls. Such bonds generally mature in less than one year, with those to be sold this month to come due in 63 days.

South Korea resumed issuing Treasury bills for the first time in five years in 2011 when it sold a total of 11.7 trillion won worth of such debts, according to the ministry. (Yonhap News)