S. Korea negotiating sovereign debt prices: official

SEOUL, Sept. 11 (Yonhap) -- South Korea's government is still in talks with foreign investors on pricing for its planned debt sale worth US$1 billion in overseas markets, a senior economic policymaker said Thursday.

"We are still in discussions on pricing with respective investors for the sale of sovereign debts," Choi Jong-ku, head of the finance ministry's international financial bureau, told reporters. "With all scheduled presentations completed, talks on pricing will take some more time."

The remarks come amid mounting concerns that the nation's debt sale plan might be
delayed due to renewed financial woes surrounding struggling investment bank
Lehman Brothers.

The Finance Ministry hoped that the debt sale will provide reassurance for
investors who raise concerns over the fundamentals of South Korea's economy, and
interests on the bonds will serve as a benchmark for other local private and
public companies that also plan to issue bonds in the second half of this year.

"The discussions will likely go on until Wednesday afternoon (local time)
and interest rates will be determined the following day if a deal is made,"
Choi said.

kokobj@yna.co.kr

(END)