SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea recorded a historic $49.73 billion current account surplus, driven largely by a notable surge in semiconductor exports. The Bank of Korea reported that this figure surpassed the previous monthly high of $38.61 billion set in May. June marked the first occasion when the monthly surplus exceeded $40 billion. The main driver behind this increase was robust goods exports, as technology shipments expanded at a much faster pace than imports.
During the first half of the year, the current account surplus reached $191.01 billion, setting a new record for any January to June period. This compares to $47.87 billion during the same timeframe last year. The six-month total also outstripped South Korea’s prior full-year record of $123.05 billion in 2025. The data highlights the significant growth in exports during the first half, with semiconductors playing a major role in boosting overseas sales.
South Korea’s goods account posted a record $47.89 billion surplus in June. On a balance-of-payments basis, goods exports jumped 84.5% from the previous year to $112.37 billion. For the first time, monthly goods exports surpassed $100 billion under this accounting measure. Meanwhile, imports increased by 38.6%, reaching $64.48 billion, which kept export growth well ahead of the rise in overseas purchases.
Semiconductors Propel Record Goods Surplus
Exports of semiconductors soared by 196.9% compared to the previous year, making chips the strongest contributor among major tech products. Exports of computer peripherals increased by 282.7%, supported by high shipments of solid-state drives and related equipment. Overall, information technology exports grew by 160.4% in June. Non-IT exports also saw an 18.6% rise, with petroleum and chemical products among categories experiencing higher overseas sales during the month.
Additional customs data indicated an exceptional month for South Korea’s trade. The Ministry of Trade, Industry and Resources reported exports of $102.25 billion, a 70.9% increase from the same period last year. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling June 2025’s figures. Imports grew by 30.1% to $66.10 billion, resulting in a trade surplus of $36.15 billion according to customs data. The differences between customs and balance-of-payments figures arise from distinct accounting methods.
Services and Income Sectors Support June’s Balance
The services account showed a $1.29 billion deficit in June, but several components contributed positively to the overall current account. The travel sector posted a $440 million surplus, marking a second consecutive month of surplus. The primary income account registered a $3.27 billion surplus, boosted by a $2.56 billion dividend income surplus. Additionally, South Korea’s financial account saw a $46.71 billion increase in net assets during June.
Trade figures for July indicate that export growth remained strong following June’s record current account surplus. South Korean exports reached $98.89 billion, a 62.8% rise compared to the previous year. Semiconductor exports increased by 179%, while imports climbed 26.5% to $68.56 billion. The country recorded a $30.32 billion customs trade surplus for July, confirming the latest trade data after the record June balance-of-payments figures.