SEOUL, Dec. 24 (Yonhap) — South Korea plans to sell 12.8 trillion won (US$11.6 billion) in state bonds next month, the finance ministry said Thursday.

The ministry will issue 3.25 trillion won in Treasurys with a maturity of three years and another 2.5 trillion won in five-year government bonds in January, according to the Ministry of Economy and Finance.

It also plans to sell 2.9 trillion won in bonds with a maturity of 10 years, and 1 trillion won in 20-year Treasurys, while floating 3.15 trillion won in bonds with a maturity of 30 years.

South Korea issued 5.8 trillion won in state bonds in December.

The country plans to sell state bonds totaling 176.4 trillion won next year as it seeks to increase fiscal spending to cope with the fallout of the new coronavirus outbreak.

Without elaborating, the ministry said it plans to sell a larger amount of government bonds in the first half of 2021 than in the second half in a bid to support its fiscal spending plan.