South Korea's January Current Account Surplus Reaches Fifth Highest in History
Synopsis
In January, South Korea achieved its fifth-largest monthly current account surplus, largely fueled by strong semiconductor exports. This remarkable performance highlights the nation's economic resilience amidst global challenges.
Key Takeaways
South Korea achieved a current account surplus of $13.26 billion in January.
The surplus decreased from $18.7 billion in December.
Year-on-year, the surplus surged by 397.4 percent .
Chip exports increased by 102.5 percent .
Foreign direct investment in South Korea rose by $5.34 billion .
Seoul, March 6 (NationPress) South Korea achieved its fifth-largest monthly current account surplus in January, spurred by a robust semiconductor upcycle and impressive export performance, according to data released by the central bank on Friday.
The surplus for the current account reached US$13.26 billion in January, a decline from $18.7 billion recorded in December, as per the Bank of Korea (BOK).
When compared to the same month last year, however, this figure skyrocketed by 397.4 percent, marking the fifth-largest monthly surplus in history, as reported by Yonhap news agency.
South Korea has maintained a current account surplus every month since May 2023, extending this streak to 33 consecutive months, making it the second longest in the nation's history.
The country documented its largest yearly surplus of $123.05 billion in 2025, eclipsing the previous record of $105.1 billion set in 2015.
The goods account reported a surplus of $15.17 billion in January, which stands as the third-largest monthly figure on record, with exports soaring 30 percent year-on-year to $65.51 billion, while imports rose 7 percent to $50.34 billion.
Exports of chips experienced a remarkable increase of 102.5 percent compared to the previous year, and vehicle shipments rose by 19 percent.
The services account, however, recorded a deficit of $3.8 billion in January, primarily due to a surge in overseas travel demand.
The primary income account, which includes wages for foreign workers and dividend and interest income from overseas, posted a surplus of $2.72 billion, largely due to dividend income.
In contrast, the secondary income account showed a deficit of $830 million.
In the financial account, the nation's net assets grew by $5.63 billion in January, a significant slowdown from the $23.77 billion increase seen the previous month.
Overseas direct investment by South Korean residents surged by $7.04 billion, while foreign direct investment into South Korea rose by $5.34 billion.
In terms of securities investment, South Korean investors increased their overseas holdings, predominantly in stocks, by $13.46 billion in January, while foreign investors raised their investments here by $4.69 billion, as per the data.
Point of View
I find South Korea's significant current account surplus a remarkable indicator of its economic strength, particularly in the semiconductor sector. This achievement not only reflects the country’s resilience but also its capacity to adapt to global market conditions.
NationPress
3 Jul 2026
Frequently Asked Questions
What was South Korea's current account surplus in January?
In January, South Korea recorded a current account surplus of US$13.26 billion.
How does the January surplus compare to December?
The surplus in January decreased from $18.7 billion in December.
What factors contributed to the current account surplus?
The surplus was driven by a semiconductor upcycle and strong export performance.
What is the historical context of this surplus?
This surplus is the fifth largest monthly surplus recorded in South Korea's history.
How long has South Korea maintained a current account surplus?
South Korea has recorded a current account surplus for 33 consecutive months since May 2023.
