SEOUL, March 29 (Yonhap) — South Korea’s corporate direct financing jumped 29 percent in February from the previous month due to a modest rise in bond sales, data showed Monday.

Local companies raised a combined 19.9 trillion won (US$17.6 billion) by selling stocks and bonds last month, up 4.4 trillion won from a month ago, according to the data from the Financial Supervisory Service (FSS).

Corporate stock sales plunged 64.2 percent on-month to 684.6 billion won, with the value of initial public offerings dipping 43.9 percent to 162.4 billion won.

Local businesses’ bond offerings soared 42.2 percent on-month to 19.2 trillion won in February.

Last month, the issuance of asset-backed securities rose 12.3 percent on-month to 684 billion won, according to the data.

This file photo shows the logo of the Financial Supervisory Service in front of its headquarters in Yeouido, western Seoul. (Yonhap)