SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea achieved a historic $49.73 billion current account surplus, driven mainly by a significant increase in semiconductor exports. The Bank of Korea reported that this figure surpassed the previous monthly high of $38.61 billion recorded in May. June marked the first instance when the monthly surplus exceeded $40 billion. The majority of this growth was fueled by robust goods exports, as shipments of technology products expanded at a much faster rate 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 timeframe last year. The six-month total also exceeded South Korea’s prior full-year record of $123.05 billion in 2025. The data highlight the remarkable export growth in the first half, with semiconductors playing a crucial role in boosting overseas sales.
South Korea’s goods account produced a record $47.89 billion surplus in June. Exports of goods, calculated on a balance-of-payments basis, jumped 84.5% year-on-year to $112.37 billion. It was the first time that monthly goods exports crossed the $100 billion mark under this accounting method. Meanwhile, imports increased by 38.6%, reaching $64.48 billion, indicating that export growth considerably outpaced the rise in imports.
Semiconductors Propel Record Goods Surplus
Exports of semiconductors surged by 196.9% compared to the same period last year, making chips the leading contributor among key technology sectors. 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 saw an increase of 18.6%, with petroleum and chemical products among the categories experiencing higher overseas sales during the month.
Additional customs data revealed an outstanding June for South Korean trade. The Ministry of Trade, Industry and Resources reported exports valued at $102.25 billion, a 70.9% increase from the same month last year. Semiconductor exports alone reached approximately $44.82 billion, nearly tripling the June 2025 level. Imports rose by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. Differences in the accounting methods used by customs figures and the balance-of-payments data explain the variance in export totals.
June’s Trade Balance Strengthened by Services and Income
The services account registered a deficit of $1.29 billion in June, yet several components supported the overall current account. The travel sector recorded a surplus of $440 million, marking a second consecutive month of positive balance. The primary income account posted a $3.27 billion surplus, driven in part by a $2.56 billion dividend income surplus. During June, South Korea’s financial account also experienced a net asset increase of $46.71 billion.
Trade figures for July indicated continued strong export growth following June’s record current account balance. South Korean exports in July totaled $98.89 billion, up 62.8% year-on-year. Exports of semiconductors rose by 179%, while imports increased by 26.5% to $68.56 billion. The country’s trade surplus based on customs data reached $30.32 billion for July, confirming the recent trend of robust trade performance following the record figures reported in June.