SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea achieved a historic $49.73 billion current account surplus, driven primarily by a significant boost 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 month where the surplus exceeded $40 billion. The substantial increase was largely attributed to 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, marking the highest total for any January to June period. This compares to $47.87 billion during the same timeframe last year. The six-month figure also exceeded South Korea’s previous full-year record of $123.05 billion in 2025. These statistics highlight the remarkable growth in exports during the initial half of the year, with semiconductors playing a major role in boosting overseas sales.
South Korea’s goods account posted a record surplus of $47.89 billion in June. On a balance-of-payments basis, goods exports soared by 84.5% year-over-year to $112.37 billion. For the first time, monthly goods exports surpassed $100 billion under this accounting measure. Imports increased by 38.6% to $64.48 billion, keeping export growth well ahead of the rise in imports from abroad.
Semiconductors Propel Unprecedented Goods Surplus
Exports of semiconductors jumped 196.9% from the previous year, positioning chips as the leading contributor among key technology products. 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 categories showing higher overseas sales during the month.
Additional customs data reflected an exceptional June for South Korean trade. The Ministry of Trade, Industry and Resources reported exports totaling $102.25 billion, a 70.9% increase from the previous year. Semiconductor exports alone reached about $44.82 billion, roughly tripling the June 2025 level. Imports rose by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. It’s important to note that customs figures and balance-of-payments data are calculated using different methodologies, which accounts for the differences in export totals.
June’s Balance Supported by Services and Income Accounts
The services account registered a $1.29 billion deficit in June, but several components contributed positively to the overall current account. The travel balance saw a $440 million surplus, marking a second consecutive month of surplus in this category. The primary income account reported a $3.27 billion surplus, boosted 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 figures for July indicated that export growth remained vigorous following June’s record current account figure. South Korean exports for July reached $98.89 billion, representing a 62.8% increase from the previous year. Semiconductor exports rose by 179%, while imports increased by 26.5% to $68.56 billion. The country posted a trade surplus of $30.32 billion in July according to customs data, confirming the latest trade figures following June’s record balance-of-payments outcome.