SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea achieved a historic current account surplus of $49.73 billion, largely fueled by a significant surge 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 when the monthly surplus exceeded $40 billion. A major factor behind this increase was the robust growth in goods exports, particularly technology shipments, which expanded at a much faster pace than imports.
The cumulative current account surplus for the first half of the year reached $191.01 billion, the highest for any January to June period on record. This compares with $47.87 billion recorded during the same period in the previous year. The six-month total also exceeded South Korea’s previous full-year record of $123.05 billion in 2025. These figures highlight the remarkable growth in exports during the first half, with semiconductors playing a crucial role in boosting overseas sales.
South Korea’s goods account recorded a surplus of $47.89 billion in June, setting a new high. Goods exports on a balance-of-payments basis increased by 84.5% year-over-year to reach $112.37 billion. This was the first month in which goods exports surpassed the $100 billion mark under that accounting measure. Meanwhile, imports grew by 38.6%, reaching $64.48 billion, which means export growth significantly outpaced the increase in overseas purchases.
Semiconductors Propel Unprecedented Goods Surplus
Exports of semiconductors soared by 196.9% from the previous year, positioning chips as the leading contributor among key technology exports. Exports of computer peripherals increased by 282.7%, supported by strong shipments of solid-state drives and related equipment. Overall, information technology exports rose by 160.4% in June. Additionally, non-IT exports experienced an 18.6% rise, with petroleum and chemical products among the categories that saw increased overseas sales during the month.
Separate customs data also indicated an outstanding June for South Korean trade. The Ministry of Trade, Industry and Resources announced exports totaling $102.25 billion, reflecting a 70.9% increase compared to a year earlier. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the June 2025 level. Imports also grew by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. It’s important to note that customs figures and balance-of-payments data follow different accounting methods, which accounts for the variation in export totals.
June’s Balance Supported by Services and Income
The services account posted a deficit of $1.29 billion in June, but several components contributed positively to the overall current account. The travel sector recorded a surplus of $440 million, marking the second consecutive month of surplus in this area. The primary income account saw a surplus of $3.27 billion, bolstered by a $2.56 billion dividend income surplus. Furthermore, South Korea’s financial account experienced an increase of $46.71 billion in net assets during June.
Trade data for July demonstrated that export growth remained vigorous after June’s record current account balance. South Korea’s exports reached $98.89 billion in July, representing a 62.8% rise from the previous year. Exports of semiconductors increased by 179%, while imports grew by 26.5% to $68.56 billion. The country posted a trade surplus of $30.32 billion in July based on customs data, confirming the latest trade figures following the record balance-of-payments data for June.