SEOUL-- South Korea plans to sell 10.5 trillion won (US$8.86 billion) in government bonds next month, the finance ministry said Thursday.

The ministry will issue 800 billion won in Treasurys with a two-year maturity, 2 trillion won in Treasury bonds with a maturity of three years and 1.9 trillion won in five-year government bonds, according to the Ministry of Economy and Finance.

The sales of longer-dated bonds will include 2.8 trillion won in 30-year Treasury notes and 350 billion won in state debts with a maturity of 50 years.

South Korea issued 11.5 trillion won in state bonds in September.

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

Source: Yonhap News Agency