South Korean banks\' overseas borrowing conditions improved in January compared with about a year ago as the portion of short-term foreign borrowing declined sharply due to growing foreign-currency deposits, the financial regulator said Monday. The outstanding amount of foreign-currency debts held by 12 local banks reached US$116.4 billion at the end of January, sharply down $9.9 billion from $126.3 billion at the end of 2011, according to the Financial Supervisory Service (FSS).