South Korea Hits Record $61.46 Billion Current Account Surplus
South Korea recorded an all-time high monthly current account surplus of $61.46 billion in September, fueled by a massive surge in semiconductor exports.
The Bank of Korea reported that South Korea achieved an all-time high monthly current account surplus of $61.46 billion in September. This figure marks a substantial increase from the $46.11 billion recorded in August and the $14.22 billion reported in September of the previous year.
A surge in semiconductor exports drove the growth, pushing the goods account to a record surplus of $62.75 billion. Exports rose 92.4 percent year-on-year to reach $130.72 billion. For the first nine months of the year, the cumulative current account surplus totaled $340.66 billion, more than triple the $83.89 billion recorded during the same period last year.
Other accounts showed mixed results. The primary income account maintained a surplus of $2.65 billion, while the services account recorded a widening deficit of $3.35 billion. This deficit was attributed to travel deficits and intellectual property payments.
