SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea recorded a historic $49.73 billion current account surplus, driven largely by a significant boost in semiconductor exports. The Bank of Korea indicated that this figure surpassed the previous monthly peak of $38.61 billion set in May. June marked the first time the monthly surplus exceeded $40 billion. The primary driver behind this growth was robust goods exports, with technology shipments expanding much faster 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 compares to $47.87 billion during the same months a year earlier. The six-month total also beat South Korea’s previous full-year record of $123.05 billion in 2025. These figures highlight the remarkable export growth in the first half, with semiconductors playing a significant role in boosting overseas sales.
South Korea’s goods account registered a record $47.89 billion surplus in June. On a balance-of-payments basis, goods exports soared 84.5% year-over-year to $112.37 billion. It was the first time monthly goods exports crossed the $100 billion mark on this measure. Imports rose by 38.6% to $64.48 billion, resulting in export growth significantly outpacing the increase in overseas purchases.
Semiconductors lead record-breaking goods surplus
Exports of semiconductors surged 196.9% from the previous year, establishing chips as the top contributor among major technology exports. Exports of computer peripherals grew by 282.7%, fueled by strong shipments of solid-state drives and related equipment. Overall, information technology exports increased by 160.4% in June. Non-IT exports also gained 18.6%, with petroleum and chemical products among categories that saw higher overseas sales during the period.
Additional customs data highlighted a particularly strong June for South Korean trade. The Ministry of Trade, Industry and Resources reported exports of $102.25 billion, which is a 70.9% increase from a year earlier. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the June 2025 level. Imports rose 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. The differences in export totals between customs figures and the balance-of-payments data are due to varying accounting methods.
June sees positive contributions from services and income
The services account showed a $1.29 billion deficit in June, but other components supported the overall current account. The travel balance posted a $440 million surplus, marking a second consecutive month of positive results. The primary income account contributed a $3.27 billion surplus, bolstered by a $2.56 billion dividend income surplus. Additionally, South Korea’s financial account experienced a $46.71 billion increase in net assets during June.
Trade figures for July indicated that export growth remained strong following June’s record current account surplus. South Korea’s exports reached $98.89 billion in July, up 62.8% compared to the same month last year. Semiconductor exports increased by 179%, while imports grew by 26.5% to $68.56 billion. The month closed with a $30.32 billion customs trade surplus, confirming the latest trade performance after the record June balance-of-payments figures.