SEOUL, SOUTH KOREA / RankWire.AI / – The Bank of Korea announced that South Korea’s current account surplus hit a record high of $49.73 billion in June, driven by a significant rise in semiconductor exports. This figure marked a notable jump from the previous peak of $38.61 billion registered in May. Additionally, the country’s streak of consecutive months with a surplus extended to 38 months. The surge was primarily supported by robust goods exports, with technology shipments leading the overseas sales expansion.
For the first half of the year, the current account surplus totaled $191.01 billion, setting a new record for January to June. This compares to $47.87 billion during the same period in the previous year. The cumulative first-half surplus also surpassed South Korea’s entire 2025 surplus of $123.05 billion. The growth in exports accelerated as global demand for semiconductors and other IT products bolstered the country’s trade results.
South Korea’s goods account experienced a record surplus of $47.89 billion in June. Under balance-of-payments standards, exports of goods rose 84.5% year-over-year to reach $112.37 billion, while imports grew by 38.6% to $64.48 billion during the same month. The gap between export and import growth contributed to the goods balance reaching its highest monthly level and played a significant role in the overall current account surplus.
Technology exports drive semiconductor growth
Exports of semiconductors surged by 196.9% compared to the previous year, making it the fastest-growing sector within key technology categories. Computer peripheral exports increased by 282.7%, while total information technology exports rose by 160.4% in June. Shipments of solid-state drives and related equipment were significant contributors to the growth in computer peripheral exports. Non-technology exports also experienced an 18.6% increase, with petroleum and chemical products among the categories that shipped more compared to June 2025.
According to separate customs data, South Korean exports reached $102.25 billion in June, representing a 70.9% rise from the previous year. The Ministry of Trade, Industry and Resources reported semiconductor exports of approximately $44.82 billion for the month. Imports climbed 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. It’s important to note that customs trade figures differ from balance-of-payments data due to variations in accounting methods and coverage standards.
Services deficit mitigates part of the trade gains
The services account posted a $1.29 billion deficit in June, partially offsetting the sizeable surplus from goods trade. The travel sector contributed a $440 million surplus, marking its second consecutive month of positive results. The primary income account saw a $3.27 billion surplus, with dividend income accounting for $2.56 billion of that total. Meanwhile, the financial account experienced a $46.71 billion increase in net assets.
Trade figures for July indicated continued strength following June’s record current account surplus. South Korea’s exports in July reached $98.89 billion, which is a 62.8% increase compared to the same month last year. Semiconductors led the growth with a 179% rise, while imports increased by 26.5% to $68.56 billion. The month closed with a $30.32 billion customs trade surplus, maintaining the momentum from the previous month’s record-breaking results.