SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea achieved an all-time high current account surplus of $49.73 billion, driven largely by a significant increase in semiconductor exports. The Bank of Korea reported that this figure surpassed the previous monthly record of $38.61 billion set in May. Notably, June marked the first occasion where the monthly surplus exceeded $40 billion. The majority of this growth stemmed from robust goods exports, with technology shipments expanding at a pace far surpassing that of imports.
The cumulative current account surplus for the first half of the year reached an impressive $191.01 billion, marking the highest total for any January to June period on record. This figure outstripped the $47.87 billion recorded during the same period last year. The six-month total also exceeded South Korea’s previous full-year record of $123.05 billion in 2025. These statistics underscore the remarkable growth in exports during the first half, with semiconductors playing a crucial role in boosting overseas sales.
South Korea’s goods account registered a record surplus of $47.89 billion in June. Exports of goods, calculated on a balance-of-payments basis, surged by 84.5% year-over-year to reach $112.37 billion. This month also marked the first time that goods exports exceeded $100 billion under this accounting measure. Meanwhile, imports increased by 38.6% to $64.48 billion, resulting in export growth significantly outpacing the rise in overseas purchases.
Semiconductors Lead the Surge in Goods Surplus
Exports of semiconductors jumped 196.9% compared to the previous year, positioning chips as the leading contributor among major technology products. Exports of computer peripherals increased by 282.7%, supported by strong shipments of solid-state drives and related equipment. Overall, information technology exports grew by 160.4% in June. Non-IT exports also saw an 18.6% rise, with petroleum and chemical products among the categories that experienced higher overseas sales during the month.
Additional customs data highlighted an exceptional June for South Korea’s trade activities. The Ministry of Trade, Industry and Resources reported exports of $102.25 billion, a 70.9% increase compared to the same month last year. Semiconductor exports alone reached approximately $44.82 billion, nearly tripling the June 2025 level. Imports grew by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. The differing totals for exports between customs data and balance-of-payments figures are due to variations in accounting methodologies.
Services and Income Accounts Contribute to June’s Positive Balance
The services account recorded a deficit of $1.29 billion in June, yet several components supported the overall current account balance. The travel sector posted a surplus of $440 million, marking a second consecutive month of positive figures. The primary income account yielded a surplus of $3.27 billion, largely driven by a $2.56 billion dividend income surplus. Additionally, South Korea’s financial account saw a net increase of $46.71 billion in assets during June.
Trade figures for July indicate that export growth remained strong following June’s record current account surplus. South Korean exports reached $98.89 billion in July, representing a 62.8% increase compared to the same month last year. Semiconductor exports soared by 179%, while imports rose by 26.5% to $68.56 billion. The country posted a customs trade surplus of $30.32 billion for July, offering the latest confirmed trade data after the historic June balance-of-payments results.