South Korea posted a record $12.24 billion current account surplus in November 2025—the largest for any November on record—supported by robust exports during a semiconductor upcycle, the Bank of Korea said Friday. This marked a sharp rise from October's $6.81 billion and continued monthly surpluses since May 2023. Building on the record $709.7 billion annual exports reported late last year, the January data underscores the year's exceptional external accounts performance.
The November surplus was the highest for any November since the Bank of Korea (BOK) began compiling data in 1980. The cumulative surplus for the first 11 months of 2025 reached $101.82 billion, surpassing the prior year's $86.68 billion for the same period and marking the largest ever recorded.
The goods account recorded a $13.31 billion surplus, up sharply from $7.82 billion in October, driven by exports rising 5.5 percent year-on-year to $60.11 billion. Chip exports surged 38.7 percent, while vehicle shipments grew 10.9 percent. Imports edged down 0.7 percent to $46.8 billion.
The services account showed a $2.73 billion deficit, narrowed from October's $3.75 billion, due to strong overseas travel demand. The primary income account posted a $1.83 billion surplus, fueled by dividend earnings from abroad. The secondary income account had a $180 million deficit.
In the financial account, net assets increased by $8.27 billion from October. Overseas direct investment by Korean residents rose $4.09 billion, while foreign direct investment inflows grew $1.76 billion, resulting in a net $2.33 billion rise.
BOK official Song Jae-chang projected the full-year 2025 current account surplus at $115 billion—the largest on record, topping 2015's $105.12 billion—noting the marked trade surplus expansion in December.
