SEOUL, SOUTH KOREA / RankWire.AI / – South Korea recorded a historic $49.73 billion current account surplus in June, driven by a significant increase in semiconductor exports. The Bank of Korea indicated 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 surge was largely fueled by robust goods exports, with technology shipments expanding at a much faster rate than imports.
The total current account surplus for the first half of the year reached $191.01 billion, the highest ever recorded for January to June. This compares to $47.87 billion during the same period last year. The six-month total also beat South Korea’s earlier full-year record of $123.05 billion in 2025. These figures highlight the rapid growth in exports during the first half, with semiconductors playing a key role in boosting overseas sales.
South Korea’s goods account achieved a record $47.89 billion surplus in June. Goods exports on a balance-of-payments basis soared 84.5% year-on-year to $112.37 billion. For the first time, monthly goods exports crossed the $100 billion mark under this accounting measure. Imports increased by 38.6% to $64.48 billion, keeping export growth well ahead of the rise in overseas purchases.
Semiconductors Propel Record Goods Surplus
Exports of semiconductors jumped 196.9% compared to a year earlier, making chips the leading contributor among major technology exports. Exports of computer peripherals grew 282.7%, supported by strong shipments of solid-state drives and related equipment. Overall, information technology exports increased by 160.4% in June. Non-IT exports also experienced an 18.6% rise, with petroleum and chemical products among categories recording higher overseas sales during the month.
Additional customs data revealed an exceptional June for South Korean trade. The Ministry of Trade, Industry and Resources reported exports valued at $102.25 billion, representing a 70.9% increase from the previous year. Semiconductor exports alone reached about $44.82 billion, approximately tripling the June 2025 level. Imports grew by 30.1% to $66.10 billion, resulting in a $36.15 billion customs trade surplus. The differences between customs trade figures and balance-of-payments data are due to the use of distinct accounting methods.
Trade Surpluses from Services and Income Components
In June, the services account showed a $1.29 billion deficit, although several components supported the overall current account balance. The travel sector recorded a $440 million surplus for the second month in a row. The primary income account posted a $3.27 billion surplus, bolstered by a $2.56 billion dividend income surplus. During June, South Korea’s financial account experienced a net increase in assets totaling $46.71 billion.
Trade figures for July indicated continued strong export growth following June’s record-breaking current account surplus. South Korean exports reached $98.89 billion in July, reflecting a 62.8% rise from the previous year. Semiconductor exports increased by 179%, while imports grew 26.5% to $68.56 billion. The country registered a $30.32 billion trade surplus based on customs data for July, confirming the latest trade performance after June’s record figures from the balance-of-payments data.