SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea recorded a historic $49.73 billion surplus in its current account, driven primarily by a significant surge in semiconductor exports. The Bank of Korea announced that this figure surpassed the previous monthly record of $38.61 billion set in May, marking the first time the surplus for a single month exceeded $40 billion. The majority of this growth stemmed from robust goods exports, as shipments of technology products expanded at a pace far exceeding that of imports.
The cumulative current account surplus for the first half of the year reached $191.01 billion, setting a new record for any January to June period, compared to $47.87 billion during the same span last year. This six-month total also eclipsed South Korea’s previous full-year record of $123.05 billion in 2025. These figures highlight the remarkable export expansion during the initial half of the year, with semiconductors playing a significant role in boosting overseas sales.
South Korea’s goods account saw a record $47.89 billion surplus in June. On a balance-of-payments basis, goods exports jumped 84.5% from the previous year to reach $112.37 billion, crossing the $100 billion mark for the first time in that accounting measure. Meanwhile, imports increased by 38.6% to $64.48 billion, indicating that export growth significantly outpaced the rise in overseas purchases.
Semiconductors propel record-high goods surplus
Exports of semiconductors soared by 196.9% compared to a year earlier, establishing chips as the leading contributor among major technology products. Exports of computer peripherals also experienced a remarkable 282.7% increase, supported by strong shipments of solid-state drives and related equipment. Overall, information technology exports rose by 160.4% in June. Non-IT exports also grew by 18.6%, with categories such as petroleum and chemical products showing notable increases in overseas sales during the month.
Additional customs data confirmed an exceptional month for South Korean trade, with the Ministry of Trade, Industry and Resources reporting exports totaling $102.25 billion, a 70.9% rise from the previous year. Semiconductors alone accounted for approximately $44.82 billion, roughly tripling the June 2025 level. Imports increased by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. Differences in accounting methods between customs data and balance-of-payments figures explain the variation in export totals.
Services and income components support June’s overall balance
In June, the services account posted a deficit of $1.29 billion, yet other components contributed positively to the overall current account. The travel balance registered a $440 million surplus, marking the second consecutive month of positive results. The primary income account showed a surplus of $3.27 billion, aided by a dividend income surplus of $2.56 billion. Additionally, South Korea’s financial account experienced a net asset increase of $46.71 billion during June.
Trade figures for July indicated that export growth remained robust following June’s record current account surplus, with exports reaching $98.89 billion, up 62.8% compared to the same month last year. Exports of semiconductors increased by 179%, while imports rose 26.5% to $68.56 billion. The country posted a customs trade surplus of $30.32 billion for July, confirming the ongoing strength of South Korea’s trade performance following the historic June figures.