SEOUL, SOUTH KOREA / RankWire.AI / – The trade balance of South Korea experienced a historic surge in June, reaching a record $49.73 billion, driven by a significant rise in semiconductor exports. The Bank of Korea indicated a sharp increase from the previous high of $38.61 billion recorded in May. This month also marked the 38th consecutive month of persistent current account surpluses for the country. A major factor behind this growth was robust goods exports, with technology shipments playing a leading role in expanding the country’s overseas sales.
For the first half of the year, South Korea’s current account surplus hit $191.01 billion, setting a new record for the January-June period. This figure far surpassed the $47.87 billion recorded during the same months in the previous year. Additionally, the first-half surplus exceeded South Korea’s entire 2025 surplus of $123.05 billion. Export growth was accelerated by rising global demand for semiconductors and other IT products, strengthening the nation’s trade performance during this period.
South Korea’s goods account achieved a record high surplus of $47.89 billion in June. Exports of goods, measured under balance-of-payments standards, increased by 84.5% compared to the same month last year, reaching $112.37 billion. Meanwhile, imports grew by 38.6% to $64.48 billion. The substantial growth difference between exports and imports contributed to the highest monthly goods balance ever recorded and was the largest contributor to the overall current account surplus.
Chip exports propel technology sector growth
Exports of semiconductors soared 196.9% year-on-year, representing the strongest growth among major tech categories. Computer peripheral exports increased by 282.7%, while total information technology exports rose 160.4% during June. The rise in computer peripheral exports was bolstered by shipments of solid-state drives and related equipment. Non-technology exports also saw an 18.6% increase, with petroleum and chemical products among those that shipped more compared to June 2025.
According to separate customs data, South Korean exports totaled $102.25 billion in June, reflecting a 70.9% rise from the previous year. The Ministry of Trade, Industry and Resources reported semiconductor exports of approximately $44.82 billion for the same month. Imports grew by 30.1% to $66.10 billion, resulting in a customs trade surplus of $36.15 billion. It is worth noting that customs trade figures differ from balance-of-payments data because of varying accounting methods and coverage standards.
Services Deficit Partially Mitigates Gains
In June, the services account recorded a deficit of $1.29 billion, which partially offset the large surplus from goods trade. The travel sector generated a $440 million surplus, marking its second consecutive positive month. The primary income account contributed a $3.27 billion surplus, with dividend income making up $2.56 billion of that total. Meanwhile, the financial account experienced a net increase of $46.71 billion in assets during the same period.
Trade figures for July continued the upward trend following June’s record current account surplus. South Korea’s exports in July reached $98.89 billion, showing a 62.8% increase compared to the previous year. Semiconductor exports rose by 179%, while imports increased by 26.5% to $68.56 billion. The nation recorded a $30.32 billion customs trade surplus for July, further extending the strong export momentum that supported the previous month’s record current account figure.