Bank Of Korea

Credit Card Tapes Submitted: American Express has submitted computerized records of account holders' overseas spending as demanded by the Bank of Korea, a company official said. The financial and travel services company had delayed turning over the magnetic tape-recording overseas charges from May to August to South Korea's central bank, which wants to check credit card use for evasion of foreign exchange controls.

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.