SEOUL, SOUTH KOREA / RankWire.AI / – The Bank of Korea announced that South Korea achieved a historic $49.73 billion current account surplus in June, driven primarily by a significant surge in semiconductor exports. The result surpassed the previous monthly high of $38.61 billion recorded in May. June marked the first month when the surplus exceeded $40 billion. The majority of this growth was fueled by robust goods exports, as technology shipments expanded at a much faster pace than imports.
During the first half of the year, the cumulative current account surplus reached $191.01 billion, setting a new record for any January to June period. This compares to $47.87 billion in the same period last year. The six-month total also exceeded South Korea’s previous full-year record of $123.05 billion in 2025. These figures highlight the substantial export growth during the initial half of the year, with semiconductors playing a significant role in boosting overseas sales.
South Korea’s goods account recorded an all-time high $47.89 billion surplus in June. On a balance-of-payments basis, goods exports jumped 84.5% year-on-year to $112.37 billion. It was the first time that monthly goods exports surpassed $100 billion under this accounting method. Meanwhile, imports increased by 38.6% to $64.48 billion, indicating that export growth significantly outpaced overseas purchase increases.
Semiconductors lead the surge in goods trade surplus
Exports of semiconductors soared by 196.9% from the previous year, making chips the top contributor among key technology sectors. Exports of computer peripherals also saw a substantial rise of 282.7%, supported by strong shipments of solid-state drives and related equipment. Overall, information technology exports rose by 160.4% in June. Non-IT exports increased by 18.6%, with petroleum and chemical products among the categories that experienced higher overseas sales during the month.
Additional customs data also pointed to an exceptional June for South Korea’s trade performance. The Ministry of Trade, Industry and Resources reported exports totaling $102.25 billion, a 70.9% increase from a year earlier. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the June 2025 figure. Imports grew by 30.1% to $66.10 billion, leading to a customs trade surplus of $36.15 billion. Differences in accounting methods between customs data and balance-of-payments figures explain the variation in total export amounts.
Services and income components support June’s overall trade balance
In June, the services account recorded a deficit of $1.29 billion, though several components contributed positively to the current account. The travel sector registered a surplus of $440 million, marking the second consecutive month of surplus. The primary income account posted a surplus of $3.27 billion, boosted by a $2.56 billion dividend income surplus. Additionally, South Korea’s financial account showed a net asset increase of $46.71 billion during June.
Trade figures for July indicate that export growth remained robust following June’s record current account surplus. South Korean exports reached $98.89 billion in July, up 62.8% from the same month last year. Semiconductor exports increased by 179%, while imports rose 26.5% to $68.56 billion. The country recorded a customs trade surplus of $30.32 billion for July, confirming the positive trade trend following the historic June balance-of-payments data.