SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea achieved a historic current account surplus of $49.73 billion, driven primarily by a significant surge in semiconductor exports. The Bank of Korea stated that this figure surpassed the previous monthly high of $38.61 billion recorded in May. June marked the first month where the surplus exceeded $40 billion. The majority of this increase was fueled by robust goods exports, as technology shipments 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 January through June. This exceeds the $47.87 billion recorded during the same period in the previous year, and the six-month total also beat South Korea’s prior full-year record of $123.05 billion in 2025. These figures highlight the remarkable growth in exports during the first half, with semiconductors playing a significant role in boosting overseas sales.
South Korea’s goods account posted a record $47.89 billion surplus in June. Exports of goods, on a balance-of-payments basis, increased by 84.5% compared to the previous year, reaching $112.37 billion. For the first time, monthly goods exports surpassed $100 billion under this measurement. Imports grew by 38.6% to $64.48 billion, maintaining a pace that kept export growth well above the rise in overseas purchases.
Semiconductors lead record trade surplus
Exports of semiconductors surged 196.9% year-over-year, positioning chips as the top contributor among major tech products. Exports of computer peripherals soared 282.7%, bolstered by strong shipments of solid-state drives and related equipment. Overall, information technology exports rose 160.4% in June. Non-IT exports also increased by 18.6%, with petroleum and chemical products among the categories experiencing higher overseas sales during the month.
Separate customs data also indicated an exceptional June for South Korea’s trade. The Ministry of Trade, Industry and Resources reported exports of $102.25 billion, reflecting a 70.9% increase from the same period last year. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the June 2025 level. Meanwhile, imports grew 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. The differing figures between customs data and balance-of-payments arise from different accounting methods.
June boosts services and income balances
The services account showed a $1.29 billion deficit for June, but several components contributed positively to the overall current account. The travel balance recorded a $440 million surplus, marking a second consecutive month with a surplus. The primary income account posted a $3.27 billion surplus, supported by a $2.56 billion dividend income surplus. Additionally, South Korea’s financial account experienced a $46.71 billion increase in net assets during June.
Trade data for July indicated that export growth remained vigorous following June’s record current account. South Korea’s exports hit $98.89 billion in July, up 62.8% from the same month last year. Exports of semiconductors increased 179%, while imports rose 26.5% to $68.56 billion. The country reported a $30.32 billion customs trade surplus for July, confirming the latest trade figures after June’s record balance-of-payments results.