South Korea Posts Record $37.33 Billion Current Account Surplus

South Korea recorded its largest-ever monthly current account surplus of $37.33 billion in March 2026, more than doubling the $23.19 billion figure from February, according to Bank of Korea provisional data released on May 8. The goods account posted a record surplus of $35.07 billion as exports surged 56.9 percent year-on-year to an all-time high of $94.32 billion. Semiconductor shipments soared 149.8 percent and computer peripherals rose 167.5 percent, powering the export boom. Imports increased 17.4 percent to $59.24 billion.

The services account recorded a $1.29 billion deficit, but the travel account posted a rare surplus of $140 million — the first in over 11 years — fueled by foreign tourists attending BTS comeback concerts in Seoul and Goyang. The cumulative surplus for the first quarter reached $73.78 billion, 3.8 times the same period last year. South Korea has now posted 35 consecutive monthly surpluses since May 2023.

Kim Young-hwan, a Bank of Korea official, stated the US-Iran war had minimal impact on March trade and projected the surplus trend to continue beyond April. The data underscores how tech exports and cultural tourism have combined to push South Korea's external balances to unprecedented levels despite geopolitical uncertainties.