SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea recorded a record-breaking current account surplus of $49.73 billion, driven largely by a significant increase in semiconductor exports. The Bank of Korea noted that this figure surpassed the previous monthly high of $38.61 billion set in May. June marked the first month where the surplus exceeded $40 billion. The substantial growth was primarily fueled by robust goods exports, as technology shipments expanded at a much faster rate than imports.
For the first half of the year, the current account surplus hit $191.01 billion, making it the highest for any January to June period. This compares to $47.87 billion during the same timeframe last year. The six-month total also eclipsed South Korea’s previous annual record of $123.05 billion set in 2025. These figures highlight the rapid export growth in the first half, with semiconductors playing a crucial role in boosting overseas sales.
South Korea’s goods account achieved a record surplus of $47.89 billion in June. On a balance-of-payments basis, goods exports surged 84.5% from the previous year, reaching $112.37 billion. For the first time under this accounting measure, monthly goods exports surpassed $100 billion. Imports rose 38.6% to $64.48 billion, maintaining export growth as the dominant driver over overseas purchases.
Semiconductors propel record-high goods surplus
Exports of semiconductors grew 196.9% compared to the previous year, making chips the leading contributor among key technology products. Exports of computer peripherals also increased significantly, rising 282.7%, supported by high shipments of solid-state drives and related equipment. Overall, information technology exports climbed 160.4% in June. Non-IT exports experienced an 18.6% increase, with petroleum and chemical products among the categories enjoying higher overseas sales during the month.
Additional customs data underscored June’s exceptional trade performance for South Korea. The Ministry of Trade, Industry and Resources reported exports of $102.25 billion, which is a 70.9% increase from a year earlier. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the June 2025 figure. Imports also rose by 30.1%, totaling $66.10 billion, resulting in a customs trade surplus of $36.15 billion. It’s important to note that customs trade figures and balance-of-payments data are calculated using different methods, leading to variations in export totals.
Trade and income components support June’s overall positive balance
The services account registered a $1.29 billion deficit in June, though several other components contributed positively to the overall current account. The travel balance posted a surplus of $440 million, marking the second consecutive month with a surplus. The primary income account also recorded a $3.27 billion surplus, boosted by a $2.56 billion dividend income surplus. Additionally, South Korea’s financial account experienced a $46.71 billion increase in net assets during June.
Trade figures for July suggest that export growth remained robust following June’s record current account. In July, South Korean exports reached $98.89 billion, an increase of 62.8% from the previous year. Semiconductor exports surged by 179%, while imports grew 26.5% to $68.56 billion. The country posted a customs trade surplus of $30.32 billion for July, confirming the strength of trade after the impressive June balance-of-payments results.