June Current Account Surplus Nears $50 Billion, Sets New All-Time Record in Just One Month (Update)

June Current Account Surplus Hits $49.73 Billion, Record High for Second Straight Month
Goods Surplus Tops List at $47.89 Billion; Exports Surpass $100 Billion for First Time Ever
Travel Account Surplus Widens; Foreign Equity Investment Posts Record Decline

In June 2026, South Korea's current account surplus reached nearly $50 billion, breaking the all-time monthly record within just one month. Robust export growth, led by semiconductors, along with a wider primary income surplus, contributed to setting this new record.

According to the 'June 2026 Balance of Payments (Preliminary)' released by the Bank of Korea on August 6, South Korea's current account surplus for June totaled $49.73 billion. This surpasses the previous record set in May ($38.61 billion), marking the largest surplus ever recorded. It was also the first time to exceed the $40 billion mark, increasing by $11.12 billion from the previous month.

The current account has remained in surplus for 37 consecutive months since May 2023, the longest streak since March 2019.

The record-breaking surplus was driven by the goods account, which makes up the largest portion of the current account. The goods account recorded a surplus of $47.89 billion in June, setting a new all-time high alongside the current account, just one month after the previous record.

The goods account surplus widened as export growth, led by semiconductors and computers (SSD), significantly outpaced import growth. Goods exports in June amounted to $112.37 billion, up 84.5% from the same month last year—surpassing the $100 billion mark for the first time ever. IT products, including semiconductors, increased by 160.4% during the same period. Based on customs data, exports of computer peripheral devices such as SSDs soared by 282.7% in June, while semiconductor exports jumped by 196.9%.

Goods imports reached $64.48 billion, rising 38.6% year-on-year. Imports increased mainly due to the Middle East war's impact, with growth centered on raw materials (30.5%) and capital goods (35.3%). Raw material imports rose notably for coal (63%) and crude oil (50.3%), while capital goods imports surged for semiconductors (64.1%), information and communications equipment (44%), and semiconductor manufacturing equipment (42.4%).

The services account posted a deficit of $1.29 billion, with the deficit expanding from the previous month's $1.09 billion. However, the travel account remained in surplus for a second consecutive month, recording a $440 million surplus in June—the second largest on record—driven by a surge in travel income as more foreign tourists visited, leading to the highest travel receipts ever recorded.

The primary income account posted a surplus of $3.27 billion, expanding from the $2.17 billion surplus in the previous month. This was mainly due to a $2.56 billion increase in dividend income.

Net external assets in the financial account (assets minus liabilities) increased by $46.71 billion, marking the largest monthly rise since March ($38.05 billion).

Direct investment growth accelerated for both outbound investment by domestic entities ($8.01 billion) and inbound investment by foreigners ($4.63 billion).

In portfolio investment, outbound investment by domestic investors increased by $3.56 billion, mainly in equities, while foreign investment in domestic securities declined by $26.32 billion, primarily in equities. Notably, foreign net selling in stocks reached a new record of $31.61 billion, largely due to profit-taking by foreign investors.

This content was produced with the assistance of AI translation services.