Semiconductor Export Boom Pushes South Korea’s Current Account Surplus to Record High

Dragon Media News Desk

South Korea’s current account surplus reached a record high as exports surged amid an unprecedented boom in semiconductor shipments.

According to data released by the Bank of Korea on Thursday, the current account surplus stood at 49.73 billion U.S. dollars in June, surpassing the previous record of 38.61 billion dollars set in May.

The current account, the broadest measure of cross-border transactions involving goods and services, has remained in surplus for 38 consecutive months since May 2023, primarily driven by strong semiconductor exports.

During the first six months of 2026, the cumulative current account surplus reached an all-time high of 191.01 billion U.S. dollars. This was nearly four times the 47.87 billion dollars recorded during the same period in 2025.

The goods account surplus also reached a historic high of 47.89 billion U.S. dollars in June.

Exports rose 84.5 percent year on year to 112.37 billion U.S. dollars, exceeding 100 billion dollars in a single month for the first time. The growth was supported by robust demand for semiconductors, computers and mobile devices.

Imports increased 38.6 percent to 64.48 billion U.S. dollars, driven by strong demand for semiconductor manufacturing equipment and crude oil.

The services account recorded a deficit of 1.29 billion U.S. dollars in June, narrowing from a deficit of 2.80 billion dollars in the same month of the previous year.

The travel account posted a surplus of 440 million U.S. dollars, remaining positive for a second consecutive month. The improvement was attributed to increased foreign tourist arrivals and a decline in overseas travel by South Korean residents due to higher fuel surcharges.

The primary income account, which includes wages and investment income, registered a surplus of 3.27 billion U.S. dollars as dividend income from overseas stock investments increased.

Net assets in the financial account, which measures cross-border capital flows excluding trade in goods and services, rose by 46.71 billion U.S. dollars in June. This exceeded the previous record of 36.99 billion dollars set in March.

Overseas direct investment by South Korean residents and institutions increased by 8.01 billion U.S. dollars, while foreign direct investment in South Korea rose by 4.63 billion dollars.

In portfolio investment, which includes stock and bond transactions, overseas investment by local residents increased by 3.56 billion U.S. dollars. However, foreign investment in South Korean stocks and bonds declined by 26.32 billion dollars, according to the Bank of Korea.