SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea’s current account recorded an all-time high surplus of $49.73 billion, driven by a significant rise in semiconductor exports. The Bank of Korea indicated a notable jump from the previous peak of $38.61 billion set in May. This marked the 38th straight month of consecutive current account surpluses for the country. The surge was primarily supported by robust goods exports, with technology shipments leading the way in overseas sales expansion.
The cumulative current account surplus for the first half of the year reached a record-breaking $191.01 billion, surpassing the $47.87 billion total for the same period in the previous year. This figure also exceeded South Korea’s entire 2025 surplus of $123.05 billion. The growth in exports accelerated throughout this period, buoyed by strong global demand for semiconductors and other information technology products, which boosted the nation’s trade performance.
South Korea’s goods account achieved a record surplus of $47.89 billion in June. According to balance-of-payments standards, goods exports increased by 84.5% from the previous year to reach $112.37 billion. Imports during the same month grew by 38.6% to $64.48 billion. The gap between export and import growth significantly contributed to the goods balance reaching its highest monthly level and was the largest single contributor to the overall current account surplus.
Technology exports surge driven by chip shipments
Exports of semiconductors saw a 196.9% year-over-year increase, representing the most substantial rise among key technological categories. Computer peripheral exports grew by 282.7%, while overall information technology exports expanded by 160.4% in June. The rise in shipments of solid-state drives and related equipment was instrumental in boosting computer peripheral exports. Non-technology categories also experienced growth, rising by 18.6%, with petroleum and chemical products among those seeing higher shipment volumes compared to June 2025.
Data from customs indicated total South Korean exports reached $102.25 billion in June, marking a 70.9% year-over-year increase. The Ministry of Trade, Industry and Resources reported semiconductor exports alone valued at approximately $44.82 billion. Imports rose by 30.1% to $66.10 billion, leading to a customs trade surplus of $36.15 billion. It is important to note that customs trade data and balance-of-payments figures differ due to variations in accounting methods and coverage standards.
Services deficit diminishes part of the trade surplus
In June, the services account experienced a $1.29 billion deficit, partially offsetting the large surplus generated by goods trade. The travel sector contributed a $440 million surplus for the month, marking its second consecutive month in positive territory. The primary income account recorded a $3.27 billion surplus, with dividend income accounting for $2.56 billion of that total. Meanwhile, the financial account saw a net asset increase of $46.71 billion during June.
Trade figures for July indicated continued positive momentum following June’s record current account surplus. South Korea’s exports reached $98.89 billion in July, which is a 62.8% increase from the previous year. Semiconductors led the growth, with exports rising by 179%, while imports increased by 26.5% to $68.56 billion. The country achieved a $30.32 billion customs trade surplus for July, extending the trend of strong export performance observed in the previous month’s record-breaking current account figures.