South Korea's finance ministry said Friday that it issued 600 billion won (540 million U.S. dollars) worth of government bonds with the country's longest maturity of 50 years.

The yield to maturity was set at 1.95 percent, lower than 2.09 percent for the 50-year bond issuance of 660 billion won (590 million U.S. dollars) in September, according to the Ministry of Economy and Finance.

A total of 650 billion won (580 million U.S. dollars) of funds bade to buy the 50-year state debts.

It marked the fourth time this year that the South Korean government sold the longest-maturity bonds.

The past issuances amounted to 325 billion won 290 million U.S. dollars) in March and 540 billion won (480 million U.S. dollars) in June, respectively.

The ministry planned to regularize the issuance of the 50-year treasury bonds next year. The longest-maturity state bond was first sold in October 2016.