SEOUL, SOUTH KOREA / RankWire.AI / – The June current account surplus of South Korea reached an all-time peak of $49.73 billion, driven largely by a significant boost in semiconductor exports. The Bank of Korea announced that this figure surpassed the previous monthly record of $38.61 billion set in May. June marked the first occasion where the monthly surplus exceeded $40 billion. The major factor behind this surge was robust goods exports, with technology shipments expanding at a much faster rate than imports.
During the first half of the year, the current account surplus totaled $191.01 billion, the highest for any January to June period. This is a substantial increase compared to $47.87 billion during the same period in the previous year. The six-month total also beat South Korea’s prior full-year record of $123.05 billion set in 2025. The data underscores the remarkable growth in exports during the first half, with semiconductors playing a key role in boosting overseas sales.
South Korea’s goods account registered a record $47.89 billion surplus in June. Goods exports on a balance-of-payments basis surged 84.5% year-on-year to $112.37 billion. Notably, monthly goods exports surpassed $100 billion for the first time according to this accounting measure. Meanwhile, imports increased by 38.6% to $64.48 billion, keeping export growth well ahead of the rise in purchases from abroad.
Semiconductors propel historic goods surplus
Exports of semiconductors skyrocketed by 196.9% from a year earlier, making chips the dominant contributor among key technological exports. Exports of computer peripherals also saw a remarkable increase of 282.7%, supported by strong shipments of solid-state drives and related components. Overall, information technology exports increased by 160.4% in June. Non-IT exports also grew by 18.6%, with petroleum and chemical products among categories experiencing higher overseas sales for the month.
Additional customs data confirmed South Korea’s exceptional trade performance in June. The Ministry of Trade, Industry and Resources reported exports of $102.25 billion, up 70.9% compared to the previous year. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the June 2025 level. Imports rose by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. The discrepancy between customs trade figures and balance-of-payments data stems from different accounting methods used in each case.
Services and income flows support June’s overall balance
The services account recorded a deficit of $1.29 billion in June, although other components contributed positively to the current account. The travel sector posted a $440 million surplus, marking the second consecutive month with a surplus in that category. The primary income account registered a surplus of $3.27 billion, bolstered by a $2.56 billion dividend income surplus. Additionally, South Korea’s financial account showed a net asset increase of $46.71 billion in June.
Trade figures for July indicated continued strong export growth following June’s record current account figures. South Korea’s exports in July reached $98.89 billion, representing a 62.8% increase over the same month last year. Semiconductor exports rose by 179%, while imports increased 26.5% to $68.56 billion. The country achieved a trade surplus of $30.32 billion in July based on customs data, confirming ongoing strength in trade following June’s historic balance-of-payments results.