SEOUL, March 26 (Yonhap) — South Korea plans to sell 6 trillion won (US$7.1 billion) worth of Treasury bills next month in a bid to repay maturing debt, the finance ministry said Friday.

The bills, which have a maturity of 63 days, will be sold in four separate auctions in April, according to the Ministry of Economy and Finance.

Treasury bills are usually floated to raise money to cover short-term financial shortfalls and thus are generally sold with a maturity of less than a year. The debts should be repaid within the year of issuance.

This undated photo, provided by the Ministry of Economy and Finance, shows the exterior of the ministry building in the administrative city of Sejong, some 120 km south of Seoul. (PHOTO NOT FOR SALE) (Yonhap)