SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea achieved a historic current account surplus of $49.73 billion, driven mainly by a significant surge in semiconductor exports. The Bank of Korea reported that this figure surpasses the previous monthly record of $38.61 billion set in May. June marked the first time the monthly surplus exceeded $40 billion. The growth was largely fueled by robust goods exports, as technology shipments expanded at a much faster pace than 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. This is a substantial increase compared to $47.87 billion during the same timeframe last year. The six-month total also exceeded South Korea’s previous full-year record of $123.05 billion in 2025. The data underscores the impressive expansion in exports during the first half, with semiconductors playing a significant role in boosting overseas sales.
South Korea’s goods account recorded an all-time high surplus of $47.89 billion in June. On a balance-of-payments basis, goods exports jumped 84.5% year-over-year to $112.37 billion, crossing the $100 billion mark for the first time under this accounting method. Imports rose by 38.6% to $64.48 billion, meaning export growth significantly outpaced the increase in overseas purchases.
Semiconductors Lead the Surge in Goods Surplus
Exports of semiconductors increased by 196.9% from a year earlier, making chips the top contributor among major technology exports. Exports of computer peripherals rose sharply by 282.7%, driven by high shipments of solid-state drives and related equipment. Overall information technology exports grew by 160.4% in June. Non-IT exports also gained 18.6%, with petroleum and chemical products among the categories experiencing higher overseas sales during the month.
Trade data from customs also indicated a remarkable June for South Korea’s trade performance. The Ministry of Trade, Industry and Resources announced exports valued at $102.25 billion, up 70.9% from the same month last year. Semiconductor exports alone reached approximately $44.82 billion, nearly triple the June 2025 level. Imports increased by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. The difference between customs data and balance-of-payments figures stems from the use of different accounting methods.
Services and Income Accounts Support June’s Overall Balance
The services account showed a deficit of $1.29 billion in June, but several components helped bolster the overall current account. The travel sector recorded a surplus of $440 million for the second consecutive month. The primary income account posted a surplus of $3.27 billion, supported by a dividend income surplus of $2.56 billion. Additionally, South Korea’s financial account experienced a net increase of $46.71 billion in assets during June.
Trade figures for July indicated continued strength in exports following the record-breaking June. South Korea’s exports reached $98.89 billion in July, marking a 62.8% rise year-over-year. Semiconductor exports increased by 179%, while imports grew by 26.5% to $68.56 billion. The country posted a trade surplus of $30.32 billion based on customs data for July, confirming the ongoing positive trend after June’s record balance-of-payments figures.