SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea recorded a record-breaking $49.73 billion current account surplus, driven primarily by a significant increase in semiconductor exports. The Bank of Korea indicated that this figure surpasses the previous monthly high of $38.61 billion set in May. Notably, June marked the first occasion when the monthly surplus exceeded $40 billion. The primary factor behind this surge was robust goods exports, as shipments of technology products expanded at a much faster pace 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 interval last year. The six-month total also eclipsed South Korea’s prior full-year record of $123.05 billion in 2025. These figures underscore the remarkable growth in exports during the first half, with semiconductors playing a pivotal role in the surge of overseas sales.
South Korea’s goods account achieved a record surplus of $47.89 billion in June. On a balance-of-payments basis, goods exports soared 84.5% year-on-year to reach $112.37 billion. For the first time, monthly goods exports crossed the $100 billion mark under this accounting measure. Meanwhile, imports increased by 38.6%, reaching $64.48 billion, indicating that export growth considerably outpaced the rise in overseas purchases.
Semiconductors Propel Record Goods Surplus
Exports of semiconductors jumped by 196.9% from the previous year, making chips the leading contributor among major technology categories. Exports of computer peripherals increased by 282.7%, supported by strong shipments of solid-state drives and related equipment. Overall, information technology exports grew by 160.4% in June. Non-IT exports also experienced an 18.6% rise, with petroleum and chemical products among the sectors that saw higher overseas sales during the month.
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, up 70.9% from a year earlier. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the June 2025 level. Imports grew by 30.1% to $66.10 billion, resulting in a trade surplus of $36.15 billion according to customs figures. The difference in export totals between customs data and balance-of-payments statistics is due to different accounting methods used.
Services and Income Accounts Contribute to June’s Overall Balance
The services account posted a $1.29 billion deficit for June, but several components supported the broader current account. The travel sector recorded a $440 million surplus, marking the second consecutive month of positive balance. 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 saw a net asset increase of $46.71 billion in June.
Trade figures for July indicate that export momentum remained robust following June’s record current account surplus. South Korea’s exports for July reached $98.89 billion, up 62.8% compared to the same month last year. Exports of semiconductors increased by 179%, while imports rose by 26.5% to $68.56 billion. The latest data shows a customs trade surplus of $30.32 billion for July, confirming the ongoing strength of South Korea’s trade balance following the record-breaking June figures.