SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea recorded a historic current account surplus of $49.73 billion, driven by a significant surge in semiconductor exports. The Bank of Korea reported that this figure surpassed the previous monthly record of $38.61 billion set in May. Notably, June marked the first occasion when the monthly surplus exceeded $40 billion. The growth was primarily fueled by robust goods exports, as shipments of technology products expanded at a pace much faster than imports.
The total for the first half of the year reached $191.01 billion, making it the highest sum for any January to June period to date. This is a considerable increase from $47.87 billion during the same period last year. Additionally, this six-month total exceeded South Korea’s prior full-year record of $123.05 billion in 2025. The data highlight the remarkable export expansion in the first half, with semiconductors playing a key role in the surge of outbound sales.
South Korea’s goods account posted a record surplus of $47.89 billion in June. On a balance-of-payments basis, goods exports jumped by 84.5% year-on-year to $112.37 billion. For the first time, monthly goods exports surpassed $100 billion under this accounting measure. Imports increased by 38.6%, reaching $64.48 billion, which indicates that export growth significantly outpaced the rise in overseas purchases.
Semiconductors propel record-breaking goods surplus
Exports of semiconductors soared by 196.9% from the previous year, establishing chips as the leading contributor among major tech products. Exports of computer peripherals increased by 282.7%, supported by strong shipments of solid-state drives and related equipment. Overall exports in the information technology sector grew by 160.4% in June. Besides IT products, non-IT exports also saw an 18.6% rise, with categories such as petroleum and chemicals recording higher overseas sales for the month.
Additional customs data also indicated an exceptional June for South Korean trade. The Ministry of Trade, Industry and Resources announced exports of $102.25 billion, reflecting a 70.9% increase compared to the same period last year. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the level from June 2025. Imports rose by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. The differing totals between customs data and balance-of-payments figures are due to variations in accounting methods.
Services and income components enhance June’s overall balance
The services sector experienced a $1.29 billion deficit in June, yet other components contributed positively to the current account. The travel sector posted a surplus of $440 million, marking the second consecutive month of positive results. The primary income account recorded a surplus of $3.27 billion, bolstered by a $2.56 billion dividend income surplus. Meanwhile, South Korea’s financial account showed an increase of $46.71 billion in net assets during June.
Trade figures for July indicated continued strength in export growth following June’s record. The country’s exports reached $98.89 billion, representing a 62.8% rise from the same month last year. Semiconductor exports grew by 179%, while imports increased by 26.5% to $68.56 billion. July’s trade balance was a surplus of $30.32 billion in customs trade, confirming the sustained positive trend following the impressive June balance-of-payments data.