<i> A roundup of developments related to Asia’s economic crisis</i>

* Missionary Zeal: Officials from the world’s biggest banks will meet with high-level South Korean officials in New York next Wednesday in hopes they will be able to complete a plan to postpone payment of as much as $35 billion in short-term debts owed by South Korea and its banks, officials close to the talks said. Such an agreement would give South Korea time to fashion a long-term solution to its credit problems. Scores of banks from the U.S., Europe and Japan are involved in the effort to roll over debts that are scheduled to be paid March 31. Major international banks already granted a 90-day extension on debt that was due Dec. 31. Last week, a gathering of bankers, including representatives of Chase Manhattan Corp., Citicorp and J.P. Morgan & Co., tentatively agreed to additional extensions. Representatives were dispatched to persuade other lenders to do the same. The scheduling of a meeting next Wednesday is a sign that the missionary work was succeeding.

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* Japan’s Surplus Drops Again: Japan’s current account surplus contracted in November from October for the fourth time in the last six months as exports to cash-strapped Asian countries fell, government figures showed. The current account surplus fell a seasonally adjusted 5.3% to $9.67 billion in November from October, the Finance Ministry said. That’s in line with the 9.5% decline forecast by economists. From November last year, the surplus in the current account--the broadest measure of goods and services flowing in and out of Japan--grew 91.8% to an unadjusted $9.7 billion. Exports fell 8.4% in November from October, and imports fell 9.5%. Still, companies will continue boosting exports in the coming months to offset the decline in domestic spending, economists said.

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* Tokyo Gunman Arrested: A Japanese nationalist opposed to deregulation of Japan’s financial markets held a top official at gunpoint in Tokyo’s Stock Exchange for six hours before he freed his hostage and surrendered. The siege ended shortly after police gave the gunman a cup of tea and cigarettes. “He wanted to prevent Japan’s ‘Big Bang,’ ” the spokesman said, referring to deregulation reforms set for April that will mean a dramatic opening up of Japan’s financial markets to foreign institutions. The gunman, identified as Tetsuo Itagaki, 41, was arrested for unlawful detention and imprisonment, as well as illegal possession of a firearm.