SOUTH KOREA

Current Account Deficit Falls Sharply: The figure fell to $80 million in May from $250 million in April, the Bank of Korea said. The reduction came as the country’s trade account showed a surplus of $50 million in May, after deficits during the four previous months, the central bank said. The cumulative current account deficit during the first five months of this year amounted to $2.68 billion, nearly five times that of the same period last year. Bank officials said the current account deficit for this year is expected to fall below the original projection of $2.5 billion because exports are expected to continue to gain throughout the year.