Semiconductor boom lifts Korea’s September surplus to near record

South Korea’s current account surplus in September reached its second-highest level ever, led by a semiconductor supercycle that boosted exports.

The Bank of Korea said Thursday that the country’s current account surplus was $13.47 billion, or about 19.5 trillion won, in September, according to preliminary balance-of-payments data. The figure exceeded August’s $9.15 billion and September 2024’s $11.29 billion. It was the second-largest monthly surplus this year after June’s $14.27 billion and the largest ever for September.

The country has posted a current account surplus for 29 consecutive months, the second-longest streak since 2000. From January through September, the cumulative surplus reached a record $82.77 billion, up about 23 percent from $67.23 billion during the same period last year.

“The cumulative current account surplus for the first nine months of the year reached an all-time high,” said Shin Seung-chul, director general of the Bank of Korea’s Economic Statistics Department. “Exports remained strong as semiconductors entered a supercycle, and automobile exports performed well thanks to diversification beyond the United States to other regions, including Europe.”

By category, the goods account surplus totaled $14.24 billion, the second-largest for any September after 2017’s $14.52 billion. Exports reached $67.27 billion, up 9.6 percent from a year earlier and more than $6.3 billion higher than August’s $56.44 billion.

According to customs data, exports rose year on year for semiconductors (22.1 percent), passenger cars (14.0 percent), chemical products (10.4 percent), machinery and precision instruments (10.3 percent), and wireless communication devices (5.3 percent). Computer peripherals, however, fell 13.5 percent. By region, exports were strong to Southeast Asia (21.9 percent), the European Union (19.3 percent), and Japan (3.2 percent), but declined to the United States (down 1.4 percent).


홍석호기자 will@donga.com