S. Korea reports biggest current account surplus in about 7 years in June: BOK


In November 2021, shipping containers were seen stacked at a container yard in the port city of Busan, as depicted in an image from Getty. South Korea's current account surplus hit a seven-year high in June, reaching US$12.2 billion, driven by strong exports, particularly in the semiconductor sector. This marked the largest surplus since September 2017, with the goods account reaching $11.4 billion, the highest since September 2020, and showing 15 consecutive months of growth. Exports in June rose by 8.7 percent year-on-year to $58.8 billion, with semiconductor exports surging by 50.4 percent, while communication devices and petroleum products also saw significant increases. Despite the overall surplus, the services account deficit expanded to $1.6 billion in June, and the primary income account, which tracks foreign workers' wages and overseas dividend payments, reported a surplus of $2.69 billion, up from $1.76 billion in May. This data was compiled by the Bank of Korea and reported by Yonhap.


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