Korea’s August current account surplus hits second-highest level on chip exports

Korea posted a current account surplus in August, the central bank said Thursday, the second-highest on record, on the back of robust exports amid the global semiconductor upcycle.

The current account surplus totaled $46.1 billion in August, up $4 billion from the previous month, according to data from the Bank of Korea (BOK). Compared to the same month in 2025, the figure jumped $36.2 billion. It marked the second-largest figure, following $49.73 billion set in June this year.

The figure remained above the $40 billion mark for the third consecutive month. In July, it stood at $42 billion. Over the January-August period, the current account surplus totaled $279.2 billion, nearly quadrupling from the same period the previous year.

The BOK said the goods account posted a surplus of $46.81 billion in August, as exports shot up 82.1 percent on year to $104.8 billion in the month, while imports rose 23.8 percent to $57.99 billion.

Exports of chips more than tripled on a customs-clearance basis, while those of petroleum products gained 64.9 percent, the BOK report showed. Outbound shipments of cars and ships, meanwhile, fell 30.1 percent and 45.2 percent, respectively.

The services account recorded a deficit of $1.68 billion in August, mainly due to deficits in other business services and travel, the bank said. Within the services account, the travel deficit widened to $770 million from $340 million in July.

The central bank added that the primary income account, which covers wages of foreign workers, as well as dividend and interest income from abroad, logged a $1.92 billion surplus.

Korea has reported a current account surplus every month since May 2023, making August the 40th consecutive month the balance has remained in the black. In 2025, the country posted its largest annual surplus on record at $123.05 billion, exceeding the previous high of $105.1 billion set in 2015.

Yonhap