SEOUL, SOUTH KOREA / RankWire.AI / – The Bank of Korea announced that South Korea’s current account surplus reached an all-time high of $49.73 billion in June, driven by a surge in semiconductor exports. This figure represents a significant jump from the previous record of $38.61 billion set in May. The country’s streak of current account surpluses extended to 38 straight months. The primary driver behind this growth was robust goods exports, with technology shipments playing a leading role in expanding the country’s overseas sales.
For the first half of the year, the current account surplus totaled $191.01 billion, establishing a new record for January through June. This figure far exceeded the $47.87 billion recorded during the same period last year. The first-half total also surpassed South Korea’s entire 2025 surplus of $123.05 billion. The acceleration in export growth was supported by increased global demand for semiconductors and other IT products, which bolstered the nation’s trade results.
South Korea’s goods account posted a record surplus of $47.89 billion in June. Exports of goods measured under balance-of-payments standards climbed 84.5% year-on-year to $112.37 billion, while imports grew by 38.6% to $64.48 billion during the same month. The gap between export and import growth was instrumental in pushing the goods balance to its highest monthly level, making the largest contribution to the overall current account surplus.
Tech exports drive significant rise in shipments
Exports of semiconductors soared by 196.9% compared to last year, marking the most substantial increase among key technology sectors. Computer peripheral exports surged 282.7%, while overall information technology exports grew by 160.4% in June. The rise in computer peripheral exports was boosted by shipments of solid-state drives and related equipment. Meanwhile, non-tech exports also advanced by 18.6%, with petroleum and chemical products among categories that shipped more compared to June 2025.
Separate customs data indicated South Korea’s total exports reached $102.25 billion in June, reflecting a 70.9% increase from the previous year. The Ministry of Trade, Industry and Resources reported semiconductor exports at approximately $44.82 billion for the month. Imports rose 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. It is important to note that customs trade figures differ from balance-of-payments data, due to variations in accounting methods and coverage standards used by each system.
Service sector deficit partially offsets trade surplus
In June, the services account registered a deficit of $1.29 billion, somewhat counteracting the large goods trade surplus. The travel sector contributed a $440 million surplus, marking its second month in a row of positive results. Additionally, the primary income account posted a $3.27 billion surplus, with dividend income making up $2.56 billion of that total. The financial account showed an increase of $46.71 billion in net assets during the month.
Trade figures for July indicated continued growth following June’s record current account figure. Exports reached $98.89 billion, up 62.8% from the same month last year. Semiconductor exports increased by 179%, while imports grew by 26.5% to $68.56 billion. The trade surplus for July was $30.32 billion, further highlighting the persistent strength of South Korea’s export sector that supported the record current account surplus reported the previous month.