Korea is rapidly closing the gap with Taiwan in its current account surplus surplus as a share of gross domestic product, with some global investment banks expecting Korea to overtake Taiwan this year, analysts said Sunday. According to data from the Korea Center for International Finance, the average forecast from eight foreign investment banks for Korea's current account surplus as a share of GDP rose to 16 percent in August from 14.7 percent in July. The banks are Barclays, Bank of America Merrill Lynch, Citi, Goldman Sachs, JP Morgan, HSBC, Nomura and UBS. The increase came as several banks significantly raised their forecasts on stronger expectations for semiconductor exports. Nomura expects Korea's current account surplus to reach 19.7 percent of GDP, while Goldman Sachs projects 18.7 percent and Citi cites 18.2 percent. The ratio shows the size of Korea's current account surplus relative to the size of its economy, allowing for comparisons between economies of different sizes. Seven investment banks expect Taiwan's current account surplus to average 20.6 percent of GDP this year, u