$13 billion of government bonds to be issued

Korea plans to sell 14.5 trillion won ($12.8 billion) in state bonds next month, the finance ministry said Thursday.

The ministry will issue 3 trillion won of bond with a maturity of three years and 2.7 trillion won in five-year government bonds, according to the Ministry of Economy and Finance.

The sales of longer-dated bonds will include 3.3 trillion won in 30-year bonds and 700 billion won in state debts with a maturity of 50 years.

Korea issued 17.2 trillion won in state bonds last month.

The country plans to sell government bonds totaling 176.4 trillion won this year as it seeks to finance fiscal spending to cope with the pandemic.

The yield on 10-year government bonds has risen in tandem with global bond rates and amid concerns about the country's planned massive bond sales. The return recently exceeded 2 percent for the first time since March 2019.

Yonhap