SEOUL, SOUTH KOREA / RankWire.AI / – In June, South Korea recorded a historic $49.73 billion current account surplus, driven largely by a significant increase in semiconductor exports. The Bank of Korea indicated that this figure surpassed the prior monthly record of $38.61 billion set in May. Notably, June marked the first month where the surplus exceeded $40 billion. The surge was mainly fueled by robust goods exports, with technology shipments expanding at a much faster rate than imports.
The cumulative current account surplus for the first half of the year hit $191.01 billion, setting a new high for any January to June period, compared to $47.87 billion during the same timeframe in the previous year. This six-month total also eclipsed South Korea’s prior full-year record of $123.05 billion in 2025. These figures highlight the rapid growth in exports during the first half, with semiconductors playing a key role in bolstering overseas sales.
South Korea’s goods account achieved a record $47.89 billion surplus in June. On a balance-of-payments basis, goods exports surged 84.5% year-on-year to $112.37 billion, crossing the $100 billion mark for the first time under that method. Meanwhile, imports increased by 38.6% to $64.48 billion, resulting in export growth outpacing the rise in overseas purchases.
Semiconductors Propel Record Goods Surplus
Exports of semiconductors soared 196.9% compared to a year earlier, making chips the top contributor among major tech products. Exports of computer peripherals also 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. Additionally, non-IT exports rose 18.6%, with petroleum and chemical products among the categories experiencing higher overseas demand during the month.
Separate customs data indicated an exceptional June for South Korean trade. The Ministry of Trade, Industry and Resources reported exports of $102.25 billion, up 70.9% from the previous year. Semiconductor exports alone reached approximately $44.82 billion, roughly tripling the June 2025 figure. Imports increased 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. Differences between customs and balance-of-payments figures are due to varying accounting methods, which explain the different export totals.
Services and Income Sectors Support June’s Trade Balance
In June, the services account registered a $1.29 billion deficit, but other components helped strengthen the overall current account. The travel balance posted a $440 million surplus, marking the second consecutive month of positive results. The primary income account saw a $3.27 billion surplus, bolstered by a $2.56 billion dividend income surplus. Additionally, South Korea’s financial account indicated a $46.71 billion increase in net assets during June.
Trade figures for July show that export momentum remained strong following June’s record. South Korean exports reached $98.89 billion in July, up 62.8% from a year earlier. Semiconductor exports rose by 179%, while imports increased 26.5% to $68.56 billion. The country recorded a $30.32 billion customs trade surplus for July, confirming continued positive trade performance after the historic June balance-of-payments data.