South Korea recorded a record current account surplus of $82.77 billion for the first nine months of this year, driven by strong semiconductor and automobile exports. The central bank reported that September's surplus alone reached $13.47 billion, the highest ever for that month.
The Bank of Korea (BOK) reported that South Korea's cumulative current account surplus from January to September reached $82.77 billion this year, surpassing the previous year's $67.23 billion for the same period and marking an all-time high. This continues a streak of 29 consecutive months of surplus since May 2023.
In September alone, the surplus totaled $13.47 billion, up from $9.15 billion in August, representing the largest ever for any September and the second-highest monthly figure overall. The goods account showed a $14.24 billion surplus—the second-largest monthly on record after $14.52 billion in September 2017—as exports rose 9.6 percent year-on-year to $67.27 billion, fueled by strong semiconductor and automobile shipments. Imports increased 4.5 percent to $53.03 billion.
The services account posted a $3.32 billion deficit, primarily due to rising overseas travel demand, while the primary income account—which includes foreign workers' wages and overseas dividend and interest income—recorded a $2.96 billion surplus. BOK official Shin Seung-chul said at a briefing, "Exports remained strong as semiconductors entered a supercycle, while automobile shipments also performed well thanks to market diversification beyond the United States to Europe and other regions."
Shin added that the surplus is expected to narrow in October due to fewer working days during the Chuseok holiday but "will likely remain solid in November and December given robust semiconductor exports, stable global oil prices and continued surpluses in the primary income account." These figures underscore South Korea's export-driven economy and suggest resilience amid global trade dynamics.
