SEOUL-- South Korea plans to sell 11 trillion won (US$9.4 billion) in government bonds next month, the finance ministry said Thursday.

The ministry will issue 850 billion won in Treasurys with a two-year maturity, 2.2 trillion won in Treasury bonds with a maturity of three years and 2 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 16 trillion won in state bonds in August.

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.

The ministry said last week the country will buy back 2 trillion won in government bonds in late August in a bid to pay off part of its national debt as planned under the latest extra budget.

When creating this year's second extra budget in June, the government said it will spend 2 trillion won in repaying part of the state debt with excess tax revenue.

Source: Yonhap News Agency