KOREA: The Persian Gulf crisis has taken...
Times staff and wire reports
KOREA: The Persian Gulf crisis has taken a toll on South Korea. The latest evidence of that was in the nation’s current account, which stood in the red by $1.53 billion in January, the largest monthly deficit in the nation’s history, the Bank of Korea said. A monthly trade deficit of more than $1.42 billion was the major factor contributing to the poor showing. Imports swelled to $6.18 billion, led by increased crude oil arrivals, while exports of $4.76 billion fell because of the Gulf War, bank officials said.
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