SEOUL, SOUTH KOREA / RankWire.AI / – The Bank of Korea announced that South Korea’s current account surplus hit a record $49.73 billion in June, driven primarily by a surge in semiconductor exports. This figure represents a significant jump from the previous record of $38.61 billion set in May. Additionally, June marked the 38th consecutive month of current account surpluses for the country. The growth was predominantly fueled by robust goods exports, with technology shipments leading the charge in boosting overseas sales.
For the first half of the year, the current account surplus totaled $191.01 billion, setting a new record for January through June. This compares to $47.87 billion 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 information technology products, which enhanced the nation’s trade performance.
South Korea’s goods account recorded an all-time high surplus of $47.89 billion in June. Under balance-of-payments standards, goods exports reached $112.37 billion, reflecting an 84.5% increase from the previous year. Meanwhile, imports rose by 38.6% to $64.48 billion in the same month. The widening gap between exports and imports played a key role in elevating the goods balance to its peak monthly level and was a major factor behind the overall current account surplus.
Technology exports drive semiconductor growth
Exports of semiconductors increased by 196.9% compared to the previous year, making it the fastest-growing category within major technology exports. Computer peripheral exports surged by 282.7%, while total information technology exports grew by 160.4% during June. The rise in computer peripheral exports was supported by shipments of solid-state drives and related equipment. Non-technology exports also saw an 18.6% increase, with petroleum and chemical products among the categories that experienced higher shipment volumes compared to June 2025.
According to separate customs data, South Korean exports in June totaled $102.25 billion, marking a 70.9% increase from the previous year. The Ministry of Trade, Industry and Resources reported semiconductor exports of approximately $44.82 billion for the month. Imports increased by 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 because the two systems use different accounting methods and coverage standards.
Services deficit partially offsets trade gains
The services account showed a $1.29 billion deficit in June, partly offsetting the substantial surplus generated by goods trade. The travel sector recorded a $440 million surplus, marking its second consecutive month of positive results. The primary income account contributed a $3.27 billion surplus, with dividend income accounting for $2.56 billion of this total. Meanwhile, the financial account experienced a $46.71 billion increase in net assets during the month.
Trade figures for July suggest continued momentum following June’s record current account surplus. South Korea’s exports reached $98.89 billion in July, representing a 62.8% increase year-over-year. Semiconductors saw a 179% rise, while imports grew by 26.5% to $68.56 billion. The country recorded a $30.32 billion customs trade surplus for July, further extending the strong export performance that contributed to the previous month’s record current account figures.